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In a message dated 01/03/2001 11:49:14 PM Central Standard Time,
catapult@xxxxxxxxxxxxxx writes:
<< ps - It's a HUGE assumption that the market makers lost money today.
From the market action, my guess is most of the pros were net long
before the move. Bill Gross (one of the few talking heads I respect)
said he expected a cut today after yesterday's NAPM and I doubt he was
alone. The A/D line clearly showed the big boys were buying while the
public was selling. Not to mention, they had the news in the pits at
least a minute before it was announced on CNBC. Looks to me like it was
Joe Sixpack Private Trader who got whacked, as usual.
>>
Goldman and Merrill (who's trading size can always be described as large)
were yesterday described as 'massive' buyers in the S&Ps first thing in the
morning and again throughout the afternoon. They probably just got lucky!
Rgds,
Kim
P.S. As I left Merc this afternoon I overheard a conversation in which a
couple of guys were claiming knowledge that he was going to drop another
0.25% -TOMORROW!
I find that very hard to believe and I never like to spread rumors but in
view of the hostility generated on this list toward the chairman of a
*private company, those concerned might want to take it easy on the short
side tomorrow ................
If anyone with contacts can forward this information to poor ol' Goldie and
the boys, I'm sure they'd be eternally grateful and I'll be able to sleep
more easily.
Many thanks in advance.
*The Fed and its officers are not 'public servants' - See <A
HREF="http://www.freerepublic.com/forum/a3650bcd64d79.htm";>
http://www.freerepublic.com/forum/a3650bcd64d79.htm</A>
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