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Strategies & Market Trends : Waiting for the big Kahuna
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To: Yogizuna who wrote (66704)10/13/2003 6:36:38 PM
From: James F. Hopkins  Read Replies (1) of 94695
 
We are a little overbought , but may still get more overbought , Max pain says we drop
before weeks end, but Max pain has been wrong before..
The thing is we have a momentum market taht feeds on the trend, up or down
( Market cap weighted ETFs and Index Funds set this up ) .. these are blind
to value, they buy/sell on market cap weight and that's it, and they are
making up more and more of the total shares traded.
Right now we just don't have a lot of selling pressure.
Jim
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