Replies to post #89121 on Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

>>we came from deeply oversold in daily and weekly charts and rallied.<<

If we were to crash or have a waterfall event, would it not come from "deeply oversold in daily and weekly charts"? If you believe that they do exist and do serve a purpose, why would you not believe that they would step in with the conditions above not only in our market but most the other markets in the world? What better time would they be needed? Have you read any of the white papers that were written that help establish "The Working group" after the crash of 1987? Greenspan said that he was prepared to support the markets in case of war. We are at war, why would you think he (the PPT) would not be involved?

Do you watch the nas tick. If so, can you explain the action we are seeing and how the extreme number of buy programs could be traded profitably near the intraday tops? Has "buy low, sell high" been repealed?

Joe

[mlsoft]

"This has been the most orderly decline we have had in this bear. that is all part of how i envision the selloffs in the second half/latter stages of the bear market imo. world markets had for the most part ALL gone below their october lows and many WELL below. They were in out and out crash mode. Was that the PPT holding things up in the US?"
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Steve...

Although your question was not directed toward me, my answer is yes, absolutely - and I posted as much all during the decline. They were using support buying in a narrow group of important stocks (primarily techs) to hold the markets up and that without the support buying the US markets would have been at new lows. It was as obvious as it could possibly have been that the only difference between Europe and the US was that Greenspan was propping the markets up.

mlsoft