Washington, Dec. 11 (Bloomberg) -- Citigroup Inc. and J.P. Morgan Chase & Co. aided Enron Corp.'s use of deceptive accounting strategies to hide debts on the now bankrupt energy trader's financial statements in 2000 and 2001, a Senate committee said. ``As disturbing as Enron's own misconduct is the growing evidence that leading U.S. financial institutions not only took part in Enron's deceptive practices, but at times designed, advanced and profited from them,'' said Senator Carl Levin, chairman of the Senate Governmental Affairs Permanent Subcommittee on Investigations, which is holding its third hearing on U.S. banks' transactions with Enron. Committee investigators said documents and interviews about the transactions show that Citigroup and J.P. Morgan ignored their own internal guidelines to satisfy a client. The two firms ``actively aided'' Enron ``in return for substantial fees and favorable consideration in other business dealings,'' the committee said in a 35-page report released this week. http://quote.bloomberg.com/fgcgi.cgi?T=marketsquote99_relnews.ht&s=APfdXdhVvQ2l0aWdy
Yep. I'm just so amazed that the PPT is in the market so strongly. They are doing everything they can to push this sucker up for Christmas. Do you see that big burst at 12:30. Nas nms tick 1-minute chart went from -280 to a +530. That's a huge change in sentiment in a one minute time frame and very "unnatural". And, look at when it came. Just as the nas was taking out the 10:54 highs. JMO
The market is not taking advantage of the opportunity to go down
however, some techs have begun to lose their momentum. this feels so much like last december. e.g. kopn (short recently from 5.5), extr (short on breaking down out of symmetric triangle).
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