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Why complain. You know the rules. The exchange can change them
at any time in the futures markets. It wasn't Greenspan, it was the
specialists. They did worse to the Hunts, they told them that they couldn't
exercise their futures positions and had to sell them back. Who do
you think created those futures positions? If you bought, the futures
traders sold and they were short. What a neat way to cover their positions,
force you to sell back. If they know you have to sell, why should
anyone hold the price up, it becomes a buyers market. If you don't
understand how the markets work, stay out. The same thing has happened
in coffee, cocoa, and several other markets in the past. This is
not the first or the last time that this will happen in the name of protecting
the public. Ira
<p>James Taylor wrote:
<blockquote TYPE=CITE><style></style>
<font face="Arial"><font size=-1>Excerpt
from today's Market Rap w/ Bill Fleckenstein at www.siliconinvestor.com</font></font>
<p><font face="Arial"><font size=-1>mentions Greenspan's latest attempt
to rig the markets, in order to keep the (disaster waiting to happen) bubbles
alive. I can't say enough bad things about this criminal Greenspan.
What will he say when the US is plunged into the next depression that he
was one of the chief architects of ? I can't be
alone in seeing this maniac for what he is.</font></font>
<p><font face="Arial"><font size=-1>----------</font></font>
<p><font face="Arial"><font size=-1><b>Hit 'em where it hurts...</b> It's
interesting that Greenspan doesn't seem to notice what the folks at the
New York Merc have noticed about heating oil. This morning, Joanie pointed
out:</font></font>
<p><font face="Arial"><font size=-1>"Y'all know about the cold snap and
the resulting surge in prices which led crude along, right? Well, <b><u><font color="#0000FF">they
busted heating oil yesterday 11 percent in the blink of an eye. How did
they do that? (Al. Pay attention here.) Besides the call for milder temperatures,
they had the audacity to raise margin requirements for February heating
oil - are you ready - by a steep 80 percent, effective on the close yesterday.
This margin hike (which Mr. Greenspan feels is ineffective in controlling
stock levels, for example) is on the heels of a 25-percent margin hike
last Friday on crude and products future trade. So, if you want to weed
out the speculators, hit 'em in the pocketbook, right?"</font></u></b></font></font>
<p><font face="Arial"><font size=-1>It just goes to show you that raising
margin requirements does cool speculation, and it's a much more effective
tool than raising interest rates. Of course, when Greenspan raises interest
rates he just prints more money, but that's a different topic.</font></font></blockquote>
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</x-html>From ???@??? Wed Jan 26 09:10:49 2000
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Subject: [RT] Re: day trade vlnc (12of 16 good)
Date: Wed, 26 Jan 2000 08:53:41 -0800
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Status:
Some final comments, to your relief -
The MOST important thing within my world-view is to SYNCHRONIZE with the
overall market. The key days were back in October. Attaching a chart of the
Nasdaq composite - See those little purple bars? That marks a situation
where the market makes a low, and then follows-through to the upside in a
window between 3 and 10 days after the low. The followthrough consists of a
large up day, with the major indexes up over 1% on an INCREASE in volume.
Anyway, on the days when those purple bars happened there were some high RS
stocks making new all-time highs. And guess what? They have made the most
spectacular runs since then. By now it's getting a little late, but these
are still the best stocks. BEWARE of stocks that haven't gone anywhere
"yet" - they are LAGGING the market.
rgds phil
http://www.patterntrader.com
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