Here are some pic.s from a very scientific test I performed a short time ago.
Testers used:
Ideal Circuit Tracer (Just the one piece)
Ideal Vol-Con (about 21 years old)
Fluke T2
Fluke 87
AWS Snap 8
GreenLee GT-11
....shown also is one partial roll of 14/3 NM
I stripped back both ends of the NM and jammed the black and white wires into a working outlet ~ the red and EGC are not connected to anything...using the Ideal Tracer to show that the recept is HOT:
Next...
We did NOT detect any voltage with the Vol-Con:
Next....
We sensed a voltage using the Fluke T2:
Next....
We sensed a voltage using the Fluke 87:
Next...
We did NOT detect any voltage with the Snap 8:
Finally....
We sensed a voltage on the red wire...on the end of the NM that was inserted into the recept. using the GreenLee GT-11:
