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Technology Stocks : Hewlett-Packard (HPQ)
HPQ 24.42+1.8%Nov 28 9:30 AM EST

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To: PCSS who wrote (1618)8/7/2002 4:04:40 PM
From: The Duke of URLĀ©  Read Replies (1) of 4345
 
Without seeming banal, let me give you another way of looking at it.

Day traders and these small "hedge funds" do not add or subtract from the total investment. The do not have very much capital themselves, even collectively, so every thing that has been bought must be sold by them, and of course not necessarily in that order.

During the middle hours of the day, they are mostly trading among themselves.

If there is overall inflow or outflow, they simply exaggerate the movement for the day or two.

It like all the day traders are listening to that ad for "channeling stocks dot com". :))
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