Found this piece at http://query.nytimes.com/gst/fullpa...=Top/News/Business/Columns/Gretchen Morgenson Published: October 17, 1999 by GRETCHEN MORGENSON [...]During the week, the markets certainly gave bargain hunters plenty of opportunities to buy. The Dow Jones industrial average lost 5.9 percent, and the Standard & Poor's 500 stock index fell 6.6 percent.[...] Dip buyers still alive ?
To be quite honest I bought yesterday at close up to my full overnight margin. I am afraid what will happen but I hope even in worst case scenario I will not lose that much as I won during 2 hours shorting on my full daytrading margin. During night I am mostly in black. Morning - who knows. May be I turned my daytrading account in long swing or investment right now
October 17 1999 ????????!!!!!!!?????????? Get out of your bomb shelter!, doomsday did NOT happened during the 2000 happy new year party.
One thing I always wondered about that. Who really moves the market? They talk about mom and pop, mutual funds, and insurance companies running out of money to buy the dips ( I know the OP was old, but you still see these sources referenced all the time). But what percentage of buying power is that relative to all the available buying power in the markets? What about black pool hedge funds who aren't subject to divulging numbers, and institutions, even corporations investing cash in the markets? I'm looking at M3, and figuring while mutual funds look tapped out, the buying power in M3 is practically limitless (perpetual motion press). The average household could be flat broke, yet doesn't the ability to create money out of thin air (granted inflation is a side effect) and lend it to institutions and banks have the ability to pour liquidity into markets and lift them if they so choose, regardless of consumers and mutual funds being tapped out? So, when they talk about buying power being diminished from the sources they cite (and I see this all the time), is that just meaningless? Or am I way off base here?