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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 672.07-1.7%Nov 13 4:00 PM EST
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To: Casaubon who wrote (30112)10/16/1999 12:54:00 AM
From: Jacob Snyder  Read Replies (2) of 99985
 
re: J6P:

You said: "J6P doesn't cause this kind of decline. That's my point. They're not selling. The smart money is leaving now."

A recent WSJ article made several points:

1. A record % of the population owns some stock, but
2. the amount they own is token.
3. The wealthiest 10% of us own 90% of all stocks, and
4. the wealthiest 1% of us own 50% of all stocks.

Therefore, nothing J6P does (buy, sell, or hold) affects the market. He doesn't own enough to matter.

The "smart money" is a small group of wealthy, confident, successful, educated people. Mostly men. Mostly white. It doesn't control the market, it is the market. They made the money in the bull market, and they'll lose it in the bear. Remember, even a couple of Nobel Prize winners in Economics can be "dumb money" when the market goes against them.
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