Zeev's Turnips Patch-No Politics (ZEEV)

[TJ Parker]

> However the concept of some clandestine group lead by AG pumpin
> up the market on a daily basis is very high on my ludicrous
> scale and seems to be mainly supported by bears who I suspect
> are looking for a rational explanation as to why the market,
> after losing 50% of its value in 3 years, is actually bouncing.

hmm. i think you exaggerate here. "everyone knows" the market is bouncing because of enormous excess liquidity that has to go somewhere. that's a rational explanation, and i'm sure many have recognized that for months.

what leads to talk of clandestine groups are things like big jams on the futures, or sells that turn out to be "mere accidents", or the massive pump on stocks like intc, or the rush to buy any selloff in stocks like nvls, even after coughing up the biggest of hairballs. when the market doesn't behave rationally (i.e. as it has in the past), of course one looks for rationalizations. but its not quite the overall tone or the incessant rally. we've had that before. its specific actions which seem to short circuit any significant retrenchment or profit taking.