Today we had some short covering, no new buying. TPO shows selling...
Buyers of the Sell-off
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Quote from rtstrading:
Who will be buying?
Well, it most likely will be some of the large Commercials undoing the large short positions that they have held since late last year. They were net short to the tune of $40b+ and will now use weakness to unwind some of that. There will not be a longer term time to buy until these Commercials become net long the market, and that will be several months.
Of course the small speculator has been net long this market and right at the top they have been nailed!
So, longer term get short or at least go to cash.
Any of em still in business? They've been wrong so long in so many reportables it's not funny anymore.
=================Quote from rtstrading:
Who will be buying?
Well, it most likely will be some of the large Commercials undoing the large short positions that they have held since late last year. They were net short to the tune of $40b+ and will now use weakness to unwind some of that. There will not be a longer term time to buy until these Commercials become net long the market, and that will be several months.
Of course the small speculator has been net long this market and right at the top they have been nailed!
So, longer term get short or at least go to cash.
In the stock market ,200day moving average is still up;
long term trend is up.
However as far as derivatives, good point ;
some small specs were long at the trending toppng area, and cut a loss.
Some small specs pay atention to 50 day moving average or price; meaning most of thier trades yesterday were short.
50dma is still down;
20 day charts are down
I guess we disagree. I'll take the large speculators side - -except this week.
$8 billion still flowed into mutual fund equities in March '07.
Two months in recent memory that had enormous volatility are September '01 and August '98. There were -$30billion and -$12 billion outflows, respectively.
Contrast that with one of the biggest 1 day spike in volatility that occured in late Feb of '07 -- which had +$8 billion inflow.
Something is odd in that picture. Or, maybe there is some other explaination.
Two months in recent memory that had enormous volatility are September '01 and August '98. There were -$30billion and -$12 billion outflows, respectively.
Contrast that with one of the biggest 1 day spike in volatility that occured in late Feb of '07 -- which had +$8 billion inflow.
Something is odd in that picture. Or, maybe there is some other explaination.