LVL - Yes, back to the 1PM levels of yesterday before the runup. Except a lot of stock is now in somebody else's briefcase, presumably those of a braver persuasion to be aggressive buyers in this environment. I'm sure they'll be back at the appropriate time.
I'm starting to view this action as indicative of a market working off a stock overhang, as opposed to a market being sold. The bulk of the trading is by mutual funds as we all know. The sellers will eventually run out of stock, but with current demographics, I don't believe the buyers are going to run out of money.
Dr. Bob's neutral/conflicting/transitionary technical readings would be consistent with this analysis. If correct, it's only a matter of time before the rise continues. Relative price stabilization (the first step) has already occurred. Perhaps you've been right all along about this market being managed, and following that hypothesis, once the overhang has been moved to other hands, it will be business as usual.
I'm no conspiracy buff, but that seems like a worthwhile government agenda to me. I wouldn't be surprised to read all about the details in someone's memoirs 5 years from now.
All we have to do is wait. But in the meantime, there will be no crash, and trades have to be entered into with that in mind.
Do you have 3 and 6 month rates for seats on the fence? |
