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Strategies & Market Trends : Classic TA Workplace

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To: JRI who wrote (9118)8/6/2001 4:03:57 PM
From: patron_anejo_por_favor  Read Replies (3) of 209892
 
<<I think J6P has left this market (witness malaise on SI, etc). I think newbie shorts got blown out in April, and some never return (and some who did couldn't manage trading this range successfully). And I think the houses are holding a ton of stock, haven't panicked yet, but have no one to sell too (so they hold....and wait....)>>

I think you're spot on on this...my sense is J6P is largely out, some are slowly leaving by selling stocks and funds to finance consumption, and that could go on for a while. It could be a drip-drip-drip water torture kind of a bear market for some time if that's the case (barring some major purge caused by a derivative or currency related crunch in the meantime).
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