Grasso warns, reassures...

chasinfla · Jul 21, 2002

http://www.elitetrader.com/vb/showthread.php?s=&postid=93357#post93357

This seemed like the best way do this, as it was already posted elsewhere.

<a href="http://news.yahoo.com/fc?tmpl=fc&cid=34&in=business&cat=stock_markets">More.</a>

<a href="http://www.msnbc.com/m/mw/mw.asp?t=V&id=mtp_grasso_stocks_020721&sk=&pl=meet_the_press&name=&opt=0">Video. </a>

ttrader · Jul 21, 2002

if Grasso is short, or what ?

If he says the market is going to dive or maybe not so bad, he is ultimately propelling a dive in the market.

If he would only say the market is going to dive - this wouldn't be so bad.

If he would only say the market is not so bad - this wouldn't be so bad.

But saying "Tt's going to dive, but please stay calm", ...,
this is creating ultimate INSECURITY in the investors' minds,
that's crazy !!!!

bungrider · Jul 21, 2002

...i think it's pretty obvious to most people what is going to happen tomorrow...

...what isn't obvious to most people is that alot of things are going to have to fundamentally change before the market can start upwards again...

...unless, of course, they just delist all the companies that are losing money...then the market will be just fine again...

chasinfla · Jul 21, 2002

you know what's funny about that? Have you ever thought of what the index would look like if all the companies that failed weren't taken out of it? What might it say about 'historical long term stock returns?'

Maybe it's barking up and empty tree.

trade555 · Jul 21, 2002

I think all this negative press is pressure from the financial community so they could cover there short position's. They did this same trick in Wall st the movie and now there has been months of short selling to be covered. I have been trading from the short side all week and have had a hard time all I see in the quotes is people trying to cover short position's on every low of the futures. I see they are having a hard time because there are no real sellers just a few big stock's driving down the market. Just an opinion.

Pabst · Jul 21, 2002

Grasso's statement seems so bizarrely telegraphed that I wonder if a major firm(s) is not in dire trouble.

chasinfla · Jul 21, 2002

He's doing what he has to do...

I'll never forget him telling us how necessary it was to go to decimals...sort of faded him ever since.

ertrader · Jul 21, 2002

He is an ass. Interesting theory on a Major firm that might be in trouble....say a major bank....or hedgefund.

Nevertheless, this week is going to be History making and as long as this market moves......$$$$$$ can be made.

I know someone who lost alot in 97 and i know a few who made a lot.

Zero sum game.......that is why i love it

chasinfla · Jul 21, 2002

grasso promises tomorrow will be a rough day/Ridge talks about martial law/wcom files for chapter 11/all on the Sunday before the Monday after the worst Friday in years?

PuffyGums · Jul 21, 2002

Originally posted by chasinfla
grasso promises tomorrow will be a rough day/Ridge talks about martial law/wcom files for chapter 11/all on the Sunday before the Monday after the worst Friday in years?

Someone otta slap Ridge around for what he said considering what has happened with the markets. And he seems like a smart guy. Do you lose your brains when you step in front of a camera?