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Technology Stocks : DELL Bear Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (1806)	9/2/1998 11:58:00 PM
From: lin luo	Respond to of 2578

I did not read any newspapers. All is my speculation. They bought the underlying (stocks, index whatever) from 6500 and up, and held them. Since the underlying was up, the futures was up too. Those who shorted futures started to lose. (they put down 10% of underlying as a margin, and count any difference from the underlying variation). The government did not do anything till that Monday after the futures expired. Before expiration, the speculators had to cover to avoid paying full price. Then government jumped in to hedge their still opened positions which the speculators had not taken delivery. Let's drop this topic.