That seems to be the EXCUSE EVERY EVERY EVERY EVERY EVERY SINGLE year, EVERY single year the same thing, if the markets up 14% they say money managers have to get their money to work because they need to play catch up and if its down say 8% they say they need to put money to work because of the end of the year guaranteed santa clause rally. Its like a broken record with these fund managers, I have just come to the conclusion thats its all hear say and nothing more, its just words spoken to get people pumped up about putting their own money to work and getting the little guys to say oh now is the time to but because the big guys are....rinse and repeat the same worthless dribble every year.
Yeah, it does crazy things...the herding of this market is something to behold...my guess is that the sentiment swings must be epic...the angle's of these rallies and sell-offs just create massive short term sentiment swings...i960 allluded to this last week, and it's kind of telling, because when we were trading below 1900 on spx, the concept of 1980 seemed like a mile away...and all it takes is one of those buy em ugly days higher and before you know it we've rallied 100 es points... Even with the bearish action is so many sectors, the indicies still chop and drop on the way down, but suddenly the charts "look pretty" when it's a buy...
fooking soybeans!!! my target was 95...but them profits were burning a hole in my pocket, exited too soon
True, when you see the s$p at 1900 you're thinking damn 1980 is far but within 3 days or less is all it took to climb to that point, so you think wow, 2100 is far but all it would take is a massive week rally and like magic the s$p is back above 2100 reaching for new historical highs. Once we get into that magical high zone where the s$p keeps breaking highs week after week that could last months and even years like it has the last couple of years since the s$p has broken out.
Dow doenst want to go red, holding on very well today, only thing really helping the markets today is energy, take energy gains out and the dow would be off close 100 points!
That happens all the time! Its happened probably more times than I can count with the ETFs I have traded, just sit patiently and wait for the next drop to come to but back in....it always comes