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I
agree that this feels like a bull trap but I can not justify the large play
here. Someone with billions thinks the market is going up from here. Why
now as the market feels to be topping and about to retest. I have felt as though
there has been a hidden hand in the market for the past week. Just a feeling no
real basis
<FONT face=Tahoma
size=2>-----Original Message-----From: Ira Tunik
[mailto:irat@xxxxxxxxx]Sent: Wednesday, October 10, 2001 8:39
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT]
General - pension fund buy programsNothing quite as
exciting as a bear market rally. I remember a day with a 70 point move
when the dow was around 600, what happens to the bearsif you have the same
percentage move today, and how many points are you looking at? Today was
only a blip. Everything has to be put intoperspective.
IraBobR wrote:> What is the truth of the rumor that it was
a pension plan buy program that> set the ball rolling today? From
all the stuff I look at the timing seems> to be a bit premature for
that. I like Earl's explanation of "Exchange> Stabilization
Fund", but there might be another reason. Perhaps a few weeks>
from now today's move might reflect the movement of a country's
treasury> running to safety. Its been made public that the Saudi
Prince has been> buying AAPL again. Its one of his favorite
trading vehicles, in below 20> out above 40, etc. over and over
again. A move like today should have had> bigger reverberations
in the equity options markets, but it didn't appear> to. It just
really smells like someone is trying to terrorize the bears.>>
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