It's an indicator, but it's small money. Like I said, they are "traders", with all that implies to me: by and large, steely-eyed pricks who would rather eat your heart for lunch that cut you a break.
And the money. Let's see. They are short about 70k spoos. At $250 a point, let's say their average entry was as high as 1125, which is probably a tad high. Anyway, that's around $19.6 billion. Well, they are on margin as per all futures traders, so modulo the leverage, their outlay is probably 25% of that, which gives us $4.9 billion
How much is that? Oh, about 2x the dollar amount traded this week in one itty-bitty POS like QLGC. (61m shares x $40).
Don't make me laugh. -g/ng |
