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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: michael r potter who wrote (41359)	2/25/2000 4:27:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 99985

Mike: NDX much weaker than NASDAQ today. Last time that happened NDX quickly plunged 10% before roaring back. The self confident swagger of tech investors may be gone with the wind sooner than you think. I have grave doubts that NDX will come roaring back after the next selloff (which now looks imminent)

To: michael r potter who wrote (41359)	2/25/2000 5:56:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Michael, i do believe that GATA's claims have merit. they may be exaggerated, but there have been too many inexplicable coincidences to not believe that the gold market (and metals markets in general) is subject to manipulation. don't forget that powerful interests are aligned here, all of whom profit from a subdued gold price. even the ultra-conservative Economist acknowledges in a recent article that something fishy must be going on. gold has a powerful political aspect: it's the only currency that no CB can print more of. and governments like nothing better than the ability to print as much money as they like... what's more, it is well known by now that the aggregate short position in gold is enormous. many big hedge funds, producers and bullion banks would be hurt by a rise in the gold price. so there's plenty of incentive to manipulate the market. however, the longer a market stays manipulated, the bigger the imbalances get that eventually lead to a turnaround. all it takes is a trigger - to wit the ECB's moratorium on selling and lending gold. if the market were not dangerously imbalanced, such an announcement would not have led to an 80+ dollar price rise in the space of two weeks. as to the issue of confidence in the NAZ's staying power you touched upon, let's call it overconfidence....it can evaporate quickly, and for no particular reason. regards, hb