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To: LLCF who wrote (55444)	6/29/2000 9:06:00 AM
From: Crimson Ghost	Read Replies (3) \| Respond to of 116759

In the old days of rational markets Joe Granville had a saying -- "if its obvious to the public its obviously wrong." Now that is not the way the world works nowadays. Things that EVERYBODY know about -- such as the tendancy of markets to ramp during the last few days of a quarter -- have continued to work for quite a while. This is just another sign of the mania IMHO. And with the mania on its last legs, it will not be long before the things everybody "knows" will no longer work.

To: LLCF who wrote (55444)	6/29/2000 10:20:00 AM
From: Rarebird	Respond to of 116759

Rubber band effect may be in play here: It is a game of psychological warfare that often functions as the precursor to a set-up that allows a spike lower to at once create a effect that resolves positively, without inciting a new selling leg. The deeper that prices were to initially fall in such a scenario to create some pessimism and jubilation amongst the bears, and therefore, the further that they were able to recover, would form a base from which a more sustainable rally effort could eventually emerge. PS I know. Pooh Pooh to you too.