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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (3680)	1/10/2005 8:20:12 AM
From: Walkingshadow	Read Replies (1) of 8752

I doubt it. The market was overbought, and long overdue for a correction. I think most likely the reaction was a bit strong mostly because it was overdue, and also because many traders were gone for the holidays. They came back and got busy. I think the charts and volume patterns tell the story pretty well, and it was as you predicted. Bearish divergence, etc. The market had been hovering or going up a bit because of a temporary lack of selling pressure, and that probably accounted for the bearish technical divergence. I saw the posts on that new rule, and my feeling is that it probably doesn't make much difference. Except that it might be harder to short stocks now, since if they don't have inventory, they will have to try to borrow, and there might not be enough to go around. That strikes me as being kinda dumb... decreases liquidity and the ability to short, which together should lead to less market efficiency. T

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