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To: GraceZ who wrote (28488)	10/15/2000 10:30:50 PM
From: Alias Shrugged	Respond to of 436258

Nice post, Grace. I agree very much with your view. Let me also add that the market has quite a bit of leverage built in (due to options and other derivatives), which tends to magnify the moves. As the market was moving down, long stock which was hedging calls was constantly being dumped while stock was being shorted to hedge the puts moving into the money. Once the market changes direction, the reversal of this delta hedging serves as an afterburner. Oh, and you are certainly correct about some of us folks hoping for a rally in order to reload on puts. May QQQ rocket back to 96 by friday!

To: GraceZ who wrote (28488)	10/15/2000 10:37:46 PM
From: Ilaine	Read Replies (2) \| Respond to of 436258

>>The price drops not from a lot of selling but from the absence of buying.<< So would you say that Friday's action arose, not from a lot of buying, but from an absence of selling?

To: GraceZ who wrote (28488)	10/16/2000 6:40:29 AM
From: AllansAlias	Read Replies (1) \| Respond to of 436258

I tend to agree slightly more with Grace on this manipulation thing. I expect it has an enormous helping hand, but the greed and the normal course of events is a huge factor. I find it odd that if it is mostly manipulation that it would turn at the last point of strong support.