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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (24855)	8/21/1998 9:59:00 PM
From: James F. Hopkins	Respond to of 94695

Russel; I gave credit of the late rally to the S/MMs closing short positions , and doing so to new shorts coming in. That we closed down for the day, it being Friday don't bother me much, as I put more weight on the super cap movement or trend than most of the others and it closed UP for the week. iqc.com It's ironic that I agree a LOT of paper profits vanished Globally, but I think most of them tried to make up for that loss by shorting this market, and that could really be their undoing. I have a gut feeling that some big international banks are caught on the wrong side of a lot of derivatives. They will try to cover up their losses as long as they can, they should have know when Asia went sour trying to make up for it by attempting to out smart the brokers wouldn't work but would just compound their problem. By shorting this market all they are doing is shooting themselves in the foot. Jim