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Attempted market manipulation by beurocrats/governments has NEVER worked
(please correct me if I'm wrong, and I realize there is a timing issue
here). If the attempt to do so is a present reality, then it is giving an
incredible and unmistakable signal. But, who really knows? I certainly
would not doubt it, since we are living in a world where so many actually
expect the govt. to 'fix' everything.The U.S. has almost gotten to a
mindset similar to Japan where it was (is) expected that the economy/stock
market would be attempted to be controlled by the government. If that is
indeed the case, buckle up; It sure has worked well there over the past ten
years.
More importantly, the reservations for the big tupperware party continue to
pile in...we're talking ice trays, salad bowls, those little lunch size
thing-a-ma-jigs...
Regards,
Tom Alexander
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> From: Dotsie <dbisn@xxxxxxxxxxxxx>
> To: realtraders@xxxxxxxxxxxx
> Subject: Is there really a CCT?
> Date: Saturday, August 07, 1999 1:55 PM
>
> Early Thursday things became so serious, with key stocks down huge
amounts,
> that apparently the Fed's rumored "Crisis Control Team" (CCT) was brought
> out
> to produce a market rally. Suddenly, within 45 minutes, the NASDAQ
> Composite
> rallied from a loss of 66 points into plus territory. This produced big
> short
> covering, and strong gains by the close.
> I believe that Friday's negative Labor Report was already known to the
Fed.
> They were fearful that if a rally were not produced, it would cause a
market
> crash on Friday. This way, when Friday's numbers were announced, the
stock
> market's reaction was milder, although bonds plunged once again.
> In the credit markets I hear much more about the potential Y2K problem.
As
> I
> wrote in Bert Dohmen's WELLINGTON LETTER a number of times, it's not the
> real
> problem, but the fear and uncertainty which will produce huge liquidation
of
> stocks. The big money will not wait until December to sell. They're
doing
> it
> now. In our PRIVATE PORTFOLIOS program for mutual fund investors we went
> into
> 100% cash this week. I recommend you do the same.
>
>
>
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