"Not a lot of big players today", but only because They are in maintenance mode.
Look at how They filled the opening gap, huh! A slow creep for the better part of an hour, straight down to 59 3/4 (acknowledging that the 60's at the close yesterday were fakes) to fill it, giant volume at the bottom to stop the drop dead in its tracks, and then right back up. Put your thumb over it on a 5-min graph and there's no way you'd know it ever happened.
And every They in the market was on the job at 1:30 today. DJII, NASDAQ, SOX, SPX all hit their bottoms more or less exactly at 1:30 before turning on a dime and moving up. Nice "oh my God!" dump into 1:30 on DJII to generate some panic. Only RUT took a few minutes longer to reverse course.
MU's rocket out of 1:30 was truly breathtaking. There were 100K trades at 2:20 and 2:29, but I couldn't tell if they were buys or sells.
Despite what any crooks on CNBC would tell you, They are in still in total control, and will make sure that the funds buy at higher prices than today. One good story over the weekend and we'll damn near close the Goldman Gap. See youse Monday when I go short. |
