|
PureBytes Links
Trading Reference Links
|
I thought he did it because:
a) the ndx had retraced about 61.8% of the rally off the 1994 low (in 1987
he goosed that market right at a giant 38.2 from 1932 low to the tick),
b) his guy is now in office (A.G. was first appointed by Ford, then by
Ronny),
c) and he needed a rally cause he was long Bilo's "G.W. Bush system."
;)
BW
>From: "Bilo Selhi" <citadel@xxxxxxxxxxxx>
>To: "Omega Users List" <omega-list@xxxxxxxxxx>
>Subject: Re: the Fed
>Date: Wed, 3 Jan 2001 18:29:24 -0500
>
>here is how i played it out today.
>-i am sitting at my desk and my system has
>some short and some longs on about 1 to 3 ratio.
>-i gazed at my system and corner of my eyes
>caught my quote screen light up like a
>Christmas tree in a 5 seconds, that's 10 seconds.
>- i look at the charts and quotes and see things
>popping left and right a quarter here and there,
>sp futures popping 5,10,15,30, that's another 10 seconds.
>- i yell out "something is up" and immediately
>pull up the wire, that's another 10 seconds.
>- the wire says fed cuts rates 50 basis points, that's 5 seconds.
>- i yell out fed cuts rates, buy. people yell out, what is up,
>what is going on? ah, too late...
>- i start pulling the trigger on whatever i have on my screen,
>arca goes down, soes and snet go slow, sp,nd, dj, us in fast market, naz
>is
>slow on
>executions, bid and offers are crossed, total confusion
>all pits in fast market, options go fast market...
>- i pay up on everything. fills are tough to get. things start
>popping heavily, market makers come in, that's about 1-3 min.
>- volume picks up, my system enters longs and reverses from
>shorts to longs. shorts are losers and longs are huge
>winners.
>- when the initial pop is over half hour later, the system
>gets out close at the top and buys the pullback and then
>exits it at the top again. all in all profitable like hell.
>- i yell out that greenspan should be fired.
>- my trading buddies that were short leave the office
>in disgust.
>
>here is the reason why greenspan did it:
>- it WAS expected but to be done on Friday
>after employment data.
>- today overseas markets tanked good.
>- yesterday we tanked and today most were short the
>market, market was heading south for good.
>- we had a wave of downgrade yet again, double and
>tripple warnings.
>- all major CEOs came out to complain to Bush that
>greenspan is overdoing things, so he was worried he'd
>lose his job...
>- yesterdays NAPM data should Q4 GDP at .5%
>- saudis are cutting oil supply, we are in energy crisis!
>- the economy was getting overdone.
>- euro went high against the buck...
>- overseas sentiment was "dump everything US economy
>is going into recession ".
>- talk on the streets "it's the end of the world" :-).
>
>greenspan stepped in to save the day and the rest of us,
>yet again.
>
>in my opinion this guy should be let go:
>- never ahead of the curve always behind.
>- have not prevented any single crash from the
>moment his was the fed chairman, always post fact.
>- was always forced to step in and not enforcing
>others to step out...
>- it always has to be overdone on both sides.
>- all in secrecy, never in public.
>- always those little hints, never a straight up approach.
>- living in the back pocket of wall street moguls,
>himself a "wall street man".
>- responsible for creation of the biggest speculative
>bubble in US history and not being able and not willing
> to stop it in time.
>- responsible for trillions of losses in pension funds
>and demolishing the hard earned savings of millions
>of americans. ( called wealth redistribution )
>- creating unnecessary market fluctuation and high
>volatility ( playing into the insider hands )
>- almost wrecked this economy and who knows
>what will happen next, might be too late, let's hope
>it's ok.
>
>don't get me wrong, i like the guy but he is for
>professionals and not for amateurs.
>and we should not be praising the bastard either.
>one man should not control the global economy...
>
>have to find a better guy if we want stuff like that to
>never repeat. don't allow it to grow fat so you
>don't have to trim it.
>
>so now what? let's inflate a new bubble???
>some equities popped 20-50% in 3 hours.
>rational or irrational???
>
>i am talking out of my ass... probably shouldn't.
>bilo.
>ps. i congratulate every one who survived Y2K market.
>
>
>
>
>
|