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To: GraceZ who wrote (208676)	12/10/2002 2:41:24 AM
From: MulhollandDrive	Read Replies (1) \| Respond to of 436258

>>Everyone always wants to assign a reason for the market doing this or that. What is comical is that sometimes the same reason is used for up as well as down. I guess it beats the announcers saying things like, "The market moved down sharply for no discernable reason" So they pick whatever news is handy and assign it the cause. If the market had moved up today, they'd have said the market was happy with the nomination....since it moved down they say, "the market moved down on the nomination, dollar concerns, deficit concerns..." etc. Meanwhile all you really have are a bunch of people trying to make money or trying to protect a profit or thinking everyone else is selling so they should too....or thinking, "I better buy the dip, but I think I'll put my order down here because it looks like I could get it cheaper." etc etc etc << the market was selling off last friday as the unemployment numbers were announced, as the resignation of o'neill and lindsay were announced the market reversed direction and began moving up, closed up slightly for the day, after the announcement of snow the selling resumed and accelerated. are you seriously saying that the market is not reactive to "news"? granted it was generally accepted (not known) for some time that o'neill would be outgoing....but until it was announced it was nothing more than speculation and depending on your pov was wishful thinking. once his resignation was made public the market reacted, albeit briefly.. obviously the overall intermediate trend of the market isn't turning on the resignation or appointment of a treasury secretary (most people couldn't even name the current one nor it's predecessors) but there is certainly a correlation of intraday or day to day turns to confirmation* of "news". this is why volume is given such scrutiny at market turns, because there are enough players in the market to "react" to news in the periphery to distort the number of sellers/buyers and create imbalances.

To: GraceZ who wrote (208676)	12/10/2002 9:33:01 PM
From: robnhood	Respond to of 436258

<<. If you spent less time taking pot shots at the US >> Really? Your administration, has the whole world sitting uneasy.... if you are not bombing some defenceless country , blockading them, whipping up hate, you're getting ready to. If you believe everything cnn or cnbc tells you then perhaps you are the naiive child. A Russian barmaid at the local pub once told me that the difference between here and there was that there they knew the press was lying. A guy writing in my newly arrived Harpers, ( an American in an American mag) said , " If Iraq's major export was broccoli, then the US GVT would not care about Saddam Hussein"