Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

>>WHY would have intervening MORE post 9/11 have been a waste?<<

Even the PPT recognizes a "freight train" when it sees it. Hope you don't mind me stepping in here but I have long been spouting off on the PPT. One of my screens that I always have in front of me for about the last five years is the Nas NMS tick. About 2 years ago I started noticing in increased amount of strange behavior on the intraday action. The only reason I could account for the action and "strength" at just the right times was the PPT intervention. I sated as such on the board I aws at and aws dismissed as being crazy..but that's another story..

Anyway, I think the Fed played the 9/11 tradegy as well as it could. I agree with Mlsoft that any more support early would have been a waste of powder. The PPT does have limitations and it needs these large money bankers to share their goals before they will "play" the game. Of course the game is to make a buck off the interevention at the same time proping the market up. IMO, there was just too much selling for the Fed and it's coherts to step up to the plate early in blood-letting. Remember the market was already falling when 9/11 hit. That type of momentum is not easily reversed.

JMO, Joe