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I agree with your second statement ('not even the fed...") - but not with
the first. The "small fry" don't provide liquidity in the market. The
market is liquid in normal times with or without the "small fry" - and
illiquid in abnormal ones. And - in abnormal times - you need a lot more
than "small fry" buying power to restore liquidity. Robyn
tj wrote:
> sure, the example i gave was an extreme, but it's all those "small fry"
> traders who provide liquidty when the big boys are out to lunch; large
> moves or small moves, it doesn't really matter. the s&p (of which i was
> speaking) is more dependent upon the small lotters than bonds. when the
> "shit hits the fan" as you say (it will, it always does), not even the
> fed or treasury will be able to turn the tide from world-wide panic
> driven selling.
>
> but i was speaking about the other 99.9% of the time........
>
> TJ
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