Quote from MacroEvent:
1205------1225 on the CASH, hard to say at this point with the institutional players doing everything they can to put a hurt on the hedge funds. The institutional players have been cycling out of their crap holdings and into more longer term defensive positions {for the downturn in the economy they see ahead}. Health Care and then some of the Financials and several Tech plays should stay strong here as they shift out of cyclicals and other low performing groups.
Institutional players started to put the hurt on many Hedge Funds over the past 6 to 7 weeks. Yes that sudden Kirkorian GM stock bid scam was brilliant to start the attack against prime Hedge Fund core short holdings and then oil was suddenly getting knocked back below $50 a barrel at the time, oh yes that was another Hedge Fund group primary core long holding. So the big Hedge Funds were now getting the double whammy from the big playa's who kept flooding in volume to push this market up from the early May lows. See the big boys just could not sit back and watch themselves get beat at their own wealth transfer game as the Hedge Funds continued to pull more and more liquidity away from their pockets. The Hedge Funds had better returns and that had to be dealt with so here we are at 1204.99 on the cash with $60 a barrel oil. Several large Hedge Funds have had to liquidate very large holdings to pull out of margin calls over this period, but the recent run in oil prices may be what saves some of these funds from huge losses this year.
This game is not over with yet, but lipstick on a pig leaves you still with just a pig.