Julie, MM's upticked everything on 100 share buys. I saw a ton of selling today, but the MM's kept eating the shares and upticking. The reason for the volume today, IMO, is there were just as many people shorting today, as buying. To much mania, and euphoria creeping up again. I hope no one is so naive to think we can set new highs anytime soon. Because that's not going to happen, IMO. We will have more earnings' shortfalls this quarter than any other in recent history. Besides, the real institutional investors are still in the Hamptons. You know they'll have a major shakeout(IE dropping the bids on every 100 share sell), before they will ever buy into it. I just hope the market doesn't gap down tomorrow. I doubt it will. Every Friday, before a holiday this year, the market has closed up. I suspect we'll see a surge next week at the open so the institutions can set their shorts, then they'll pull the rug out. Just my opinion of course. Just like yesterday, I mentioned a ton of selling going on in MANU, yet they took it higher today. It's down 13 pts in A/H since it's high set @ 3:40pm. I suspect the same will happen across the board next week. Looking at shorting the entire B2B sector tomorrow or next week.
KM |
