InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 65.56

-4.0%

Feb 5 3:59 PM EST

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To: tahoe_bound who wrote (19282)	5/23/2000 12:58:00 AM
From: Hawkmoon	Read Replies (1) of 28311

Just a quick TA update folks. The COMPX put in a really nice hammer on the daily candlesticks today, reversing and retracing all the intraday losses we suffered. Truly amazing!!! siliconinvestor.com That should give the entire Nasdaq some breathing room for awhile, but some folks may feel this still is not the end of the downtrend since we broke previous support. Just a quick comment from the conspiratorial side (that I'm beginning to give more credence to on days like today). There is a rumour that a "plunge protection team" was established several years ago, with Goldman Sachs as its head (Robert Rubin connections.. etc) tasked with providing liquidity to the market when there are no buyers and the indices are tanking. Today's action really looks like someone stepped into this market in a big way in order to prevent a total collapse. Some might call this manipulation and a violation of free market principles and I would normally tend to agree. Except that the manner in which AG is raising interest rates is ALSO abnormal and manipulative in a negative sense. If the Fed wants the market to come down, but not crash, then it would make sense that they would have the means to prevent their economic hammer from becoming an economic wrecking ball. So the question now is exactly where does AG and his Fed buddies want to see the market indices trade at, and for how long. How far is he willing to go in hiking interest rates when a strong US dollar is pressuring every currency around the globe, creating artificial inflation and destabilizing their economic recoveries?? All very important questions that will be decided in the several months. Regards, Ron

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