Quote from saliva:
What I don't understand is how this market could have gotten this far in the first place with volume that is thinner than air? We climbed more in terms of points than the rally we had yesterday afternoon on perhaps one-tenth its volume. Go figure!
Something's wrong with that reasoning. I doubt it was the lack of sellers, particularly those yet-to-be sellers, that have given birth to this 3-month rally. My point was more in reference to the commercials, not retailers like you and me.Quote from Lawrence Chan:
Two words - no sellers.
If you were the bagholders from higher prices with average down cost at 930, would you unload at 890?
Since all long term funds and retail stock holders ARE underwater. They would hold as long as possible until they get to levels at or close to breakeven before considering to liquidate their positions.