MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Steve Lee who wrote (15145)	12/1/2002 1:24:24 PM
From: GraceZ	Read Replies (2) of 19219

The thing you always have to ask yourself is, if the majority is selling, who are they selling to? The public has been selling for over a year after almost a year of buying the decline, mutual funds and money managers have been selling for well over a year. The members became net long mostly against their will and against a back drop of their own heavy distribution during each and every counter trend rally because, like the public, they are convinced that stocks are worthless. One could say they got left holding the bag, yet this is not their historic roll in the market. During the rise to the highs they were net sellers, during the last year of this decline they are net buyers against the public action, but not because they wanted to be, someone has to buy what the public throws out. It's that function of taking the other side of the extremes of the public action which allows them to always make a pile while the public investor gets bond-like yields, the average money manager or mutual fund manager is lucky to match the indices and most traders go broke.

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