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

To: Bonnie Bear who wrote (36600)	1/21/1999 5:20:00 PM
From: James F. Hopkins	Respond to of 94695

Bonnie; I've been tracking the MDY every day, she is also loaded with internuts, and has in the last 3 weeks eat up the SPY, but that's over. I will say this after hours looks horrible, if something don't happen fast every thing is going to fall like a rock on the open. I mean it looks bad..and it was set up too.. I'm not worried one bit with my shorts, I just got wiped by hedging the SPY , but that won't hurt me except for profits. There is not a time in the world that when the market does a hard fall the MDY won't fall faster than the SPY.. Going up can be another story, but even then it takes several days for the MDY to get over the shock.. ------------- Wait till after the open you'll see. The big bad tricky thing the market did, ( and I saw this about a week ago too ) was close on an up tick with the Futures getting killed at the last minute, and in such a way sell trading programs don't get to kick in. This is twice now I've seen the futures do an end run on the arbitrage traders at the last minute. ----------------- CNBC is so full of Sit about what's going in that it's a disgrace I've never seen reporting that was Soooo Far off..them people must be blind, stupid blind at that. The hog wash they are putting out on the internut sector is sick. I told every one a week ago the internuts had their nuts in a vise. Now after 4 down days in a row CNBC calls it profit taking..( margins are being squeezed and this was rigged ) to top that off the runners are down, & the huge caps are down, ------------------ This market was not bought up, it was leveraged up ever since NOV 23rd, and daddy Creemspams friends have by now unwound most of the LTCM junk into the rally,,and the plug is being pulled. It's been pure manipulation by the likes of all those nice honest folks who picked up LTCM. I also told every one to watch the FED repo, and if they went two days without one look out. Well the market expected one today, And did not get it* that liquid level has a bearing on the cost of fair value in the pits. People listen to the great Mark Hains on CNBC about fair value, and he don't know squat, he gets it handed to him each morning..well it can change during the course of the day, but not once has he ever mentioned that, why ? Because he don't know it..& they are all just parrots. ------------ I hate to sound so flustered but the level of the stupidity on CNBC sometimes just gets to me. Snug as a bug in a rug , just wish I'd had the guts to have held off on my hedge, but that will work itself out, and I've learned not to let any one put doubt in my mind. Most of my market calls are a tad in front of the market, but they have gotten so damm good it's even spooky to me. Jim