halfway through I hit caps lock by mistake.... why dont you explain to me how it wasnt the govt when individuals net sold the markets. you have 8300 posts you must have the answer among them.
yes i have a good answer. Charles Biderman does not have a clue. i have followed his work for over 10 years and have never found it of any value.
"$32 BILLION IN FUND OUTFLOWS LAST YEAR AND THE GOVT WAS NOT INVOLVED." this 32 billion outflow figure is his work. i really dont have the energy right now to get into a ppt conspiricy debate. you guys cant be reasoned with.
And short term: Expectation of valuation. The difference between short-lived expectation (which is emotional) and long-term valuation (which is factual), is the cause of inefficiencies in the market.
Question 1: Why did the U.S. stock market stage a comeback on Friday around 2 pm EST to end positive for the day? Question 2: Who has been buying tech stocks the past 2 days? I am tracking down profit taking fool, was wondering if there were other fund manager... PM me if you are one or if you can suggest some1 thanks
i am a fund manager, i have purchasing power in excess of 2mm intraday 1]the 2pm rally was impressive, a few different forces came into affect and created the perfect storm. a)selling was exhausted, the shaky/loose hands got out of the market in the morning and the bearish expectations probably "overshot". b)traders generally do not like to hold positions overnight and even less so, over the weekend. apparently a big institution decided to cover a massive short position around 1:50pm pushing the bid up and causing a chain reaction of many sellers attempting to lock in profits. c)the unemployment number although initially dragged down sentiment, later in the afternoon was seen as "ok the worst is behind us"
My first thought was some rumor about an IMF bailout. Or some good news out of the euro zone. But I couldn't get anyone to confirm my suspicion. Anyway, it would be nice if I had traders/fund managers to tell me what's going on...
The problem is that I need either a fund manager or some analyst to quote. I can't just say "awesome independent trader who knows what's going on" says this is why the market moved.
traders on the online community of "elitetrader.com", mentioned.. i though the point of journalism was to invent some causality.. >"the heavy snowstorm forced traders to close short positions early and run home for the weekend!" >"steve jobs had a turkey sandwich for lunch, Apple shares soared 10%"