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>Seems like there should be buyers for stocks first,...
NYSE breadth (ADV - DECL) is positive.
BW
>From: "Brian" <blink64@xxxxxxxxx>
>To: "List, Omega" <omega-list@xxxxxxxxxx>
>Subject: The SP this morning
>Date: Fri, 15 Feb 2002 09:04:24 -0800
>
>
>I heard from a friend this morning who has an SP squawk, Solomon was in the
>SP futures this morning bidding aggressively 400 lots at a time, which most
>likely explains the divergence between the SP and NAS this morning.
>Apparently he was primarily responible for the first rally from 1107 to
>1112, and the second smaller one, and a couple more times around 1111.00.
>Maybe he was protecting an option position who knows. Anyway, say that we
>did succesfully keep the SP bid long enough to attract buyers. THis then
>starts a ripple effect through the markets and individual stocks start
>going
>up. Is this the way it works? Can one person (group/comapny) have that
>kind of impact? Seems like there should be buyers for stocks first, which
>would move the cash which would then move the futures, at least in most
>cases. Can 1 group like this keep the SP futures bid long enough to turn
>the tide of the entire market without support from many buyers in
>inidividual stocks?
>
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