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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (82910)	3/5/2002 5:50:41 PM
From: E. Charters	Respond to of 116998

That looks like my eyes on monday morning, if the streets were in red. I used to do charts for a company a while back. It was like divining. You took a map of the city and walked downtown holding onto the quarterly report. After a while, notating where you had been on the city map, you tacked that plot onto the chart of the performance to date as the prediction. Seemed to work as well as the tech boys in the backroom with all their math. If it was nice day a guy would go up to the bar on the hill and have a few drinks, the stock would go up and hold. if you went down to the docks to go fishing the stock would go down too and stay there for a while. The effect of a prediction on making a stock go where you want it to go is well known. If a great pundit of wall street comes out with a sobering prediction of gloom and doom, then sure enough, everyone will sell and the stock will tank. No specialist could hold it up. If they wax enthusiastic about its prospects, swarms rush to buy and the stock appreciates nicely, making their predictions well-nigh uncanny. There is nothing else making a stock go up or down, just its buyers and sellers. If the market is rigged so you don't see the majority of the people buying and selling, that is called a cartel. Examples of cartels are the LME, Comex and the stock exchanges. Why? Because only one group, and not the buyers and sellers themselves control the price. This is both good and bad. If the people traded all their stock electronically on the internet, with orders matching by computer algorithm with no broker intervention and stock prices being up to the second, I guarantee you stock trading and prices would be some different. In some ways it would be better for some traders. In many cases the ability to keep a stock at its highly fictional support price, would be seriously impaired. Anyone who thinks that stock prices and commodity prices are arrived at purely by actual supply and demand of the "end user", is dreaming in technicolor. Few producers or issuing companies want it that way anyway. EC<:-}