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

To: yard_man who wrote (26504)	9/4/1998 12:27:00 PM
From: Tom M	Respond to of 94695

Tippet, I see the confusion, I should have said "towards" the close. After reading Iceshark's comment I'd like to add that 99% of my orders are limit orders, and I wouldn't request a "buy at close". As far as it being an irrational thing to do, this is a system where money is constantly used to lure one in the wrong direction. My reasoning adds onto Pierre's original "we retest and fail" scenario. So, if we failed bigtime, would if be unreasonable as Phil mentioned for Greenspan to add a few soothing words during his 7pm scheduled broadcast to stabilize a decline? Think of this on Tuesday am IF the things I originally brought up happened, and we had a big dip today. Greenspan offers some carefully chosen words that calms a mom and pop panic, and consequently scares some shorts. Next over the weekend in San Fran, Rubin's meeting with Japanese officials yields some additional positive comments that sooths mom & pop which scares the shorts, & Japan perhaps rallies before we open Tuesday. Lastly in my hypothetical scenario, there's a meeting in Russia that on Monday may perhaps announce positive steps, that sooths mom & pop which scares the shorts. This is all I meant. If Friday's closing prices are all at new lows because of Pierre's "retest & fail", & Greenspan, Rubin, Japan, and Russia all "sooth mom & pop which scares the shorts" over the long weekend, I say a gap up on an oversold market is not unlikely, and therefore profitable if one had purchased towards the close. I also said I wouldn't bet on it happening, but it could. It would be a nice gain if it panned out, but not worth MY risk. Was just trying to add another brief alternative WAG to Pierre's (phew!). No one knows what will happen, have a good one, Tom