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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Neil_L who wrote (14650)	10/16/1998 5:24:00 PM
From: Greg Jung	Respond to of 18691

< why the sudden urge? > It was as direct a stock-market intervention as AG could make without bringing the wrath of Jim Leach down. (Although I'm sure he'll be on the hot seat again for this). The bond futures were closed so no grinches were nearby to steal the thunder, only equities. And the equities love to drink the spiked punch. To flush out anyone short s&p futures which settle at opening on the following day. News came out just as WH/Congress announcing the successful budget, etc. Also there's a theory that another big house is in trouble. Given the week to reverse the arbitrage positions this may have been the boost needed to get some into the black. See yesterday's column in stocksite.com market rap for a certified bear rant. For my part, yesterday my retailer I recently bought (P/E=7., no debt) bumped 2 at close and today 2 more for the share buyback. Wish I had gotten more of her (dbrn).