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Strategies & Market Trends : Canadian Options
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To: IngotWeTrust who wrote (1002)4/28/1998 6:49:00 AM
From: Porter Davis  Read Replies (2) of 1598
 
>>Or am I missing something here?

I guess I wasn't very clear on this. Funds often commit a good portion of their cash into the market at the opening; there is also significant order flow form Europe at the opening. Therefore, traders like to be in a position to sell at the opening (often the highest price of the day), so they cover/reduce their short positions the preceding afternoon. The 'two o'clock rally' is universal.

Any clearer?

Happy trading.

Porter
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