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Strategies & Market Trends : Galapagos Islands
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To: Oral Roberts who wrote (13240)11/16/2002 12:33:23 PM
From: MulhollandDrive  Read Replies (1) of 57110
 
not piling on (response no #5...but thought you might appreciate this)

Message 18241484

Now with the SPX at important breakout levels so glaringly in their faces, they all will have to come in and cover -- as if they really knew why they were short to begin with, those darned traders -- causing a blip up that the big hedge funds triggering the madness to the upside can blow out of.

Do these kinds of trades have anything to do with anything? Yes indeedy: They have to do with momentum and psychology and the inability of the market to allow shorts out of their positions without catastrophic losses.

Sure, the press will hang it all on a stronger-than-expected retail sales number or an Intel buyback, but what it should really be hung on is performance anxiety and the inability of the newbie managers and amateur SI shorts to take any pain.
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