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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (40476)	8/22/2001 9:28:14 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

To:Jack T. Pearson who wrote (16286) From: donald sew Wednesday, Aug 22, 2001 8:09 AM Respond to of 16311 Jack, >>>> Lots of the tech stocks making new lows. Looking at both the NASDAQ and the SPX, I don't see any significant support left. I assume we will test the April lows to test. If we don't do that test on high volume, I fear new lows will follow. <<<< Very valid point concerning volume if there is a retest. To put it in perspective, The NDX is only about 130 points from the APRIL LOWs and the QQQ's is only 3 points away. It was just a few weeks ago when MANY ANALYSTS were so sure that the bottom was set and even went to the extent that to say that there will be no retest. Here's the point that I want to make. Lets focus in on those who were so sure that we would not even get a retest. How could they be so sure. On a technical basis, I could not find too many bullish supports for not getting a retest, and we all know that these analysts have a support staff of technical analysts. Fundamental analysis is not used for timing and they all know that. So how are they SO SURE that we would not get a retest. The reason I am bringing this up, is that Im trying to make the distinction between a possible WRONG CALL and a MANIPULATED CALL. My belief is that there is ABSOLUTELY no significant support, other than gut feelings, to make the firm call that there WON'T BE RETEST of the APRIL LOWs, so why did some/many make that call. That is what I call a MANIPULATED CALL - they just want to give the feeling of certainty hoping that not too many will sell. As I mentioned yesterday, I want to make the distinction between those who just made wrong calls and those who MANIPULATE, and yes there is an overlap. Those who make WRONG CALLs consistently should be demoted/lose their job, BUT those who MANIPULATE should be put in JAIL!!!!! The majority of analysts have made wrong calls in terms of identifying the NAZ peak and the extent of the selloff, but lets focus and remember those who obviously took MANIPULATION to unacceptable levels.