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To: Doo who wrote (24964)	12/12/2001 7:23:52 PM
From: bcrafty	Read Replies (1) \| Respond to of 209892

Jeff, I also noticed that on the NQ daily chart we were getting close to the bottom of the channel. I would have felt better if we had gotten all the way there, but I guess that leaves some room for a little more downside tomorrow and Friday.

To: Doo who wrote (24964)	12/12/2001 10:00:26 PM
From: UnBelievable	Respond to of 209892

I Was Looking at The Shorter Time Frames My comment was based on a 1 minute chart. The longer period charts do look oversold. I have found the sto's more useful in short periods though. I think that the intervention was prompted by the occurrence of the third failure to put in a higher high. It seems that the market had begun to retreat from this third attempt and left to its own devices would have most likely ended at 1120 or so. But since the market is everything I guess these types of interventions are part of its own devices. <gg> Whether its Treasury or Federal Reserve intervening for the "good of the economy" or Fidelity using OPM to prop up the market to prevent fund outflows, the problem is from an economic perspective, because it results in an allocation of capital in a manner inconsistent with the generation of the greatest real returns. When this happens for a while the economy goes to hell. It probably began to happen when people began to believe that there were circumstances when it makes sense to pay more than the present value of expected future earnings for a stock. I did want to clarify that while I may feel that these types of activities are not good for the economy, not considering them would not be good for my economy. Just because I don't approve of something doesn't mean I can't trade on it.