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Today's market upswing may be a very temporary improvement. The main
reason, besides the background noise of economic problems around the
world and continuing impact on the USA, is that we have footprints of panic
in today's Fed action. They are afraid it is too late to head off
recession.
A bolder move would have made this way too clear. There will be behind the
scenes work to come up with other government action, such as tax cuts, real
help for developing countries. Much of it will be a "show." The signs of
panic
suggests to me that we have a trading range or even a bear market coming up.
-----Original Message-----
From: Tom Stein <comfut@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, October 15, 1998 5:33 PM
Subject: Liquidity?
>Thought I would start a little thread on the liquidity of the
>financial markets and what they might be telling us...........I have
>been trading the markets for a few years and have never seen such a
>lack of liquidity in the most liquid markets in the world............
>
>1)Euro Dollars move 26 ticks in a few seconds(26 ticks in a year is a
>big move)
>
>2)T-Bonds move up AND down 8 full points within about a two week
>period
>
>3)The dollar/yen moves almost 10% in 24 hrs
>
>4)The S&P 500 moves 50.00 points without a downtick....the e-mini
>moves 100.00 points in about 2 minutes
>
>5)The Fed Reserve cuts the discount rate in between meetings and
>during market hours
>
>If I wrote a book based on the 5 events listed above.....how do you
>think it would end????
>
> Obviously, the Fed knows something about the financial soundness of
>the world's banking systems that they have not told us about,
>yet........I wonder what it is????
>
>Comments welcome.............
>
>
>Tom Stein
>comfut@xxxxxxxxxxxxx
>
>
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