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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (19854)	9/3/1998 8:30:00 AM
From: Andeveron	Read Replies (1) \| Respond to of 50167

>> my feeling is that Globex is a highly manipulated market << Globex manipulation works both ways. After Monday's sell-off and market close, Globex was up strong and stayed strong through the night. After such a pummeling session, sentiment was broken and very edgy but Globex appeared like a bastion. At one point before Tuesday's open, S&P Futures were up 27 points. This served to encourage European markets that perhaps a turn-around was in the making in New York for Tuesday. Manipulation overnight is unclear as it may only reflect the negative sentiment that is roiling out there. The sell off in the last session came in hard and fast, and out of nowhere. However, I do agree that there is systematic manipulation of Globex to influence market open. Traders look to it for cues and support. It appears to be negative right now but things fluctuate quickly on Globex. Dow futures are now down 95 points and S&P Futures are down about 15. We may see a 300 point swing today.

To: IQBAL LATIF who wrote (19854)	9/3/1998 9:11:00 AM
From: SE	Respond to of 50167

IKE, I know about a thimble size full as much as you do about the world economy, markets etc....OK, less than that even! :) However, I do think that the markets generally discount things before they happen. We don't know what the cause is until after the fact. This market sees something in the near future that it doesn't like much. There has been speculation galore, but no one will know for sure until it occurs and even then, maybe not till after the fact. With the charts below the 200 period MA, for several days now, I am very concerned about the health of the market and quite frankly the economy. KISS....trendlines can be your friend....and right now, they are not a happy friend at all. I remember our bet on ASND.....and I now think it will see 30 before 50. That Baskin Robbins cone is awfully tempting at this point in time. :) The advice I have been giving anyone who asks is that the risk/reward ratio does not advocate staying in or taking new positions in this market today. It advocates stepping aside and letting the big boys play. Many small time players can be hurt badly without proper cash management tools...such as going to cash in periods of uncertainty. Many cannot do the proper hedging techniques and if they cannot, they should exit to cash. Just my two cents for what it is worth. With good cheer and my best. -Scott