From Today's The Big Picture

very interesting:
http://bigpicture.typepad.com/comments/2006/11/todays_explosio.html

--RS

 

who knows. barry has been bearish all the way up. hes always looking for things to bolster his negitive bias.

 

From Barry:

[/i]Today's explosion: $4B emini covering

I've checked the grapevine, and have it on fairly good authority: Today's explosion was caused by a covering (or unwinding of) a 122k emini SPX contracts.

That's a notational value of $4B.



Someone's stop loss got triggered big and ugly . . . [/i]


Can some of you guys "in the know" comment on this? Is he correct?

Interesting. Now that this "smart money" has covered, time for a drop?

 

Yes, he is correct. How does it matter?

 

Thanks.

I just added an edit: Is it time for a drop? Just checking opinions.

My systems don't care one way or the other.

Good trading to all.