I think the spy plain being held in China had a lot to do with the break of 1794 yesterday. I expected it to come next week. Might as well push prices down to the 0ct 98 lows. The institutions are killing themselves here, just like they did with the ipo scams. The investment banks pushed to many pos ipo's out the door last year. They shot themselves in the foot, hence no ipo market. Now their on the brink of investors leaving the markets forever, willingly and unwillingly. It's similar to a stock that continues to go down forever. Eventually, everyone gives up on it forever, because they have been burned by it so many times, that they could care less about a bottom or a possible bounce. And, when it does bounce, those who gave up on it don't really care anymore, because they will never trade it again.
The same principal applies to the markets right now. Soon, investors will just say screw this chit, and never return. We are very close to that point right now. Institutions better start supporting it a little or they will shoot themselves in the other foot. |
