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


To: Dr. Jeff who wrote (29664)10/1/1998 2:17:00 AM
From: James F. Hopkins  Read Replies (2) | Respond to of 94695
 
Dr.Jeff; Thanx and spread it all over any place you wish with
my blessings.
I know ONE stock sounds a little extreme, and it is a "little"
extreme, but it says what I want to say about the commingling
nature of the present day market in a way that's hard to miss. <G>
Stocks do not stand or fall on the merits of the companies,
as so many have been taught. They now depend on big arbitrage
derivative trading programs that are based around the market cap
size of a few stocks, which in turn doesn't just set some tone
for the market. It "forces" huge swings.
It's not realistic to think investors or even day traders are
are buying and selling this market all at the same time as
if they were a school of fish.
Jim