Lawrence, I do not understand. How is possible that LONGs need liquidate when they bought? They did not receive shares from brokers? I can imagine that shorts can have problem by settlement /f.e preborrowed same shares to more subjects, but longs?
looks like we found a temp hold level. market is sideway for the time being this is actually good as the lower we go, the higher we bounce tomorrow if the vote is passed. will looking to go long at close today unless it bounces back significantly before then
dragon is bullish or bearish (upside down) (although I do not really see what pekelo is seeing) dragon formation site: http://www.trading-naked.com/JerrysDragonPattern.htm
nm it's trending down AGAIN. wtf is with the selloff today? doesnt make any sense. Is it just fear the bill wont get passed in the house tomorrow
T+3 is for both longs and shorts. Those who bought stocks on margin before the congress move, can be underwater as of open this morning, based purely on price level of the indices. If their positions are covered yesterday or the day before, no delivery is necessary - that means, they took loses. Today, however, we opened lower and that triggers old style margin call liquidation as those under margin longs have not enough money to take delivery.
newguy, after Monday's fiasco, house is going to make sure they have everything in the bill that will get enough people to vote for it. They will take their time. and if it doesn't get voted on tomorrow they will claim that it can't be rushed.
One more factor in play - mutual funds, etc. may need to raise cash as we speak when the fund holders switching to money market due to fear of market melt down. ie. sell on panic by public, could be bullish