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Problem is there isn't anything the Fed or anyone else can do to reverse the
markets course this month and next. The stock liquidation is built into the
mutual fund management system and it happens every year at this time. About
all the Fed might accomplish by further rate reductions is a slowing of the
decent or perhaps in a rare case it might change a few minds about selling,
but this regurgitation starts in August most years and is not complete until
the two down waves, one in Sept, and one in Oct have washed out on the
beach. Its a foregone conclusion that flea market bargain buyers(as well as
big powered money) won't return until this cumulative net volume stops going
down. Any slight pause and uptick right now just provides further shorting
opportunities.
bobr
----- Original Message -----
From: "Timothy Morge" <tmorge@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, September 07, 2001 9:19 AM
Subject: Re: [RT] Nasdaq
> Earl:
>
> Also remember the NY Fed chairman was an exec at a huge FX trading
> institution for many years and had hands-on experience during the Plaza
> accord and subsequent large-scale FX and bond market interventions.
> Greenspan no doubt has at least a 25 basis point cut "in his pocket" for
> any market event he chooses to spring it on, so I would not be surprised
to
> see more intervention in the index market and perhaps a surprise rate
> change if things got even more ugly.
>
> Good trading, folks.
>
> Tim Morge
>
>
> At 09:45 AM 9/7/2001 -0600, you wrote:
> >One other comment ... they came in and bought ND futures at 134150 and
that
> >turned and led the SP futures up. For those who believe in intervention
(I
> >do) this was a very logical strategy to slow the decline.
> >
> >Earl
> >
> >----- Original Message -----
> >From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Sent: Friday, September 07, 2001 9:41 AM
> >Subject: Re: [RT] Nasdaq
> >
> >
> > > My targets for September ND are 1200, 1070, 900. SP target is 1040.
Daily
> > > charts are all shot so using weekly.
> > >
> > > Earl
> > >
> > > ----- Original Message -----
> > > From: "Ira Tunik" <irat@xxxxxxxxx>
> > > To: "realtraders" <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Friday, September 07, 2001 9:10 AM
> > > Subject: [RT] Nasdaq
> > >
> > >
> > > > This one looks real dicey. If 1700 doesn't hold I have targets all
the
> > > > way down to 860 with support at 1375 and 1080. There are other
> > > > intermediate price objectives, but these are the major ones. Always
be
> > > > aware of the movement that will cause a directional change. Trading
with
> > > > blinders on and unidirectional can be dangerous to your bank
account.
> > > > Ira.
> > > >
> > > >
> > > >
> > > > To unsubscribe from this group, send an email to:
> > > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > > >
> > > >
> > > >
> > > > Your use of Yahoo! Groups is subject to
> >http://docs.yahoo.com/info/terms/
> > > >
> > > >
> > > >
> > >
> >
> >
> >
> >To unsubscribe from this group, send an email to:
> >realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> >Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>
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>
>
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