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Amazing. I had a nearly identical conversation with a local trader tonight,
including the expression "pushing on a string". Another element we discussed
is the refi of houses supplying the equity to maintain the illusion of the
good times rolling on. Good comments.
and good night
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, August 01, 2001 21:09
Subject: Re: [RT] S & P
> I won't say the thought does not cross my mind, however I'm not terribly
> worried and I do take protective measures based on the exchange handling
of
> electronic stop orders outlined by John Lothian i.e. I use stop limit
orders
> hosted on exchange servers rather than stop orders hosted on broker
servers.
>
> I am of the opinion that the Fed has now realized that its cannon has been
> spiked and is now conserving its musket balls. When you think about it,
the
> entire Fed program is based on getting the consumer to consume more of
what
> he can no longer afford because he is up to his eyeballs in lease
payments,
> house payments and credit card payments and getting the lenders to lend
more
> at cheaper rates to a consumer who can't afford it. I think it's called
> pushing on a string.
>
> Earl
>
> ----- Original Message -----
> From: "Howard Hopkins" <hehohop@xxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, August 01, 2001 1:23 PM
> Subject: Re: [RT] S & P
>
>
> > It seems to me that 'they' are bidding the market up in mornings on all
> this
> > bad economic news... maybe hoping for the fed to step in with a surprise
> > rate cut. By noon or one they give up.
> >
> > Is anyone else besides me a little nervous about shorting this market
due
> to
> > possible fed intervention?
> >
> > Just a thought,
> > Howard
>
>
>
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>
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