>WHO IS responsible for all this selling, it has to be someone like FIDELITY, it is probably not individuals.
Jean,
Excellent question.
I would think individuals have more sense than to sell CSCO for no good reason, as apparently happened today. Thus, it must be fund/s. You are probably on-target with your assessment.
But why would funds sell CSCO today? The answer to that question probably depends upon what happened on the golf course this morning. Maybe one fund manager hit a bad shot and got pissed. Broke his/her club on a tree stump. Know what I mean? His/her bad mood rubbed off on his/her buddies. They then decided to go have some drinks at the bar. Subsequently, they then sold CSCO to pay for their bar tab...all agreeing that after they drove Cisco's stock price down today, they would buy back in in the morning...assuming a not-too-bad-of-a hang over. <g>
Seriously though, fund managers DO drive stock prices, and they do so for selfish and nefarious, as well as selfish and mundane, reasons. All it takes to drive CSCO's stock price back up, is another morning on the golf course, a good shot or two, and they will buy CSCO in happy elation and celebration. Fund managers are Fickle. Fickle. Fickle.
Ice |
