Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

TrainGuy, Of course program trading has been around for many years. I Mlsoft,myself and others have a problem with is when the programs hit, the intensity and that they usually include several other markets (gold, forex, futures and bonds). You see HLCamp buy/sll limits. How many times do we see these spikes in the tick without touching those numbers. It use to be that you would see these spikes and could explain them by an extraordinary event, a technical area of significance, or an extreme oversold condition.

It use to be when you saw a big spike in the tick that it was a sign of a possible reversal and that money was flowing back into stocks. It was a sign that a program hit, someone thought prices were cheap and it was someone that had big bucks behind them. For those reasons there was almost always some follow up buying taking the tick higher. Now we see so many buy programs that have no follow through. We have no follow through because many can not see the reason to buy at that level. There is not enough reward apparent to justify the risk.

I don't see why it is so hard to believe that there is a PPT very active in the stock market when we know for sure that they are active in the bond, gold and forex markets. It becomes almost necessary to keep the other markets in balance to have them (PPT) active in equities.

Secrecy? Why is it we see the buying and we don't know who it is but we know it's not the PPT. Most of us, most the brokers I know, don't know the games that the specialist and market makers play. We don't know how the money center banks move stocks for their largest clients or who they are.Why is it hard to believe that there is not another level that is a bit more secretive than they are. We see 1 mil shares trade on QQQ. We don't know who for but we know it's not the PPT. How logical is that? In the day of computers it would take very little effort for the PPT to get the job down with very few having knowledge. The same type secrecy that the specialist use in protecting their buyers and sellers. If a program buy comes through, how is the specialist know for whom it is for?

Every point that Mauldin brought up last week in his commentary has been satisfactorily rebutted in my opinion.
http://www.investorshub.com/boards/read_msg.asp?message_id=905802

The only rebuttal I saw to Hultberg's comments was that Cashin doesn't realy work for CNBC. Seems like a moot point to me.

Joe

Joe