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Strategies & Market Trends : P&S and STO Death Blow's
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To: Jeff who started this subject10/29/2002 10:16:27 AM
From: augieboo  Read Replies (2) of 30712
 
Good post from Velo re manipulated rally

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To:Manny Santos who wrote (4787)
From: velociraptor_ Monday, Oct 28, 2002 5:20 PM
View Replies (2) | Respond to of 4792

Except there really haven't been many dip to buy. If you looks at the S&P as an example, the index went from 768 to 880 within 4 days of the low for a move of 110 points.Since then it managed to move up another 20 points after another 4 days, and then another 8 points after 4 days again.
That's 140 points in 12 days of which 110 occured in the first 4 days. Not only that, but about half of the initial pop occured on huge opening gaps and the bulk of buying on each of these gap days occured in the first 2 hours of trading at the highs of the gap. That means that a good portion of the initial rise not only occured within the first 4 days, but it was also missed by many.

Essentially, we have move 8 points higher in the index in the last 4 days (6% of the total move) or 28 points in the last 8 ( 20% of the move). It has taken twice as long in terms of time to make only 20% of the total move.

I agree this market is being pushed because the move has been way too fast, but it is also being manipulated as a trap. The sum total of volume in the last 8 days says most are in at these higher prices compared to the first 4 days.

Distribution to the masses....
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