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Strategies & Market Trends : ahhaha's ahs
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To: ahhaha who wrote (10218)11/11/2007 11:42:55 PM
From: AndeveronRead Replies (1) of 24758
 
In essence then, weak hands are selling supply into strong hands like they did in February and August of this year. You say that price can't meaningfully move away from ET flow but what does "meaningfully" imply? If there's a 15% correction from the highs, is that meaningful? Do strong hands ever cry uncle?

On a somewhat related note, what do you think of Martin Armstrong's Economic Confidence Model?

It should be emphasized that price in modern markets is swayed by superficial sentiment held by the mass of traders who dominate the action more than at any time in the past. Way more. This sentiment affects price at the margin and induces non convicted public to move in its direction. Because of this lemming persuasion effect market price can decline even while strong buying outweighs weak selling, but to those who have conviction about the prospects under what they're buying, the downside price bias provides opportunity.
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