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I'm thinking along the same lines although there's a good chance that the
longs and the shorts will cancel each other out. The reasoning here is that
many see this as the beginnings of war and uncertainty (short side).
Other's see this as the Galvanization Of America and the signal for buying
to begin again.
My personal thinking is that there is more risk to the downside particularly
when everyone realizes that corporate earnings are what matters. Maybe
watch for the rally and then continued declines to a true capitulation.
-- John
> -----Original Message-----
> From: Ira Tunik [mailto:irat@xxxxxxxxx]
> Sent: Wednesday, September 12, 2001 9:22 PM
> To: realtraders
> Subject: [RT] opening of he markets
>
>
> I don't know when the markets will open. The longer the wait the
> greater the build up of transactions that need to be made. The other
> fact is that time has elapsed and the panic trades will no longer be
> made. Time will cure some of the insecurity of the security holders.
> There might be a great deal of volatility the first day due to fund
> liquidations caused by redemptions. I have a feeling that things won't
> be as hairy as some seem to believe. The missing data can be replaced
> because there was another side to all the trades. They would be lost
> only if both sides of the trade where in the WTC and both lost all their
> data and had no back up system. Redundancy has been the American by
> word since 1987. This disaster is costing many companies millions of
> dollars, but how much will it really inpact their bottom line as a one
> time occurrance. The American public and investors will over look this
> type of one time occurrance and once again look 6 months to a year
> ahead. Whether that look says worse economic conditions or better
> economic conditions will determine the direction of the markets in the
> long run. Right now the conditions are a backspreaders dream situation
> come true. Instability and volatility, a traders delight. All is
> neither black or white and nothing is quite as bad as it seems. Have a
> good week. Ira.
>
>
>
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