In the complete absence of market pricing, systems persistent behavior to not purchase the shares for the accounts who've ordered them, leads to situations exactly like what we see in the present time.
This behavior is called Desking, it is taking on a life of its own as data accumulates. Only under the complete disconnect of Supply and Demand could the present situation unfold as it is.
While there are thousands of traders out there participating in the signaling of trend modification, rationalizing price to any level, requires understanding of fundamentals.
In the absence of understanding fundamentals, securities are moved around arbitrarily, to account for system imbalances, and outcomes undertaken by aligned interests, differentiated though they might be.
The simple fact of the matter is, that traders using computer algorithms are purposefully deconstructing price to locate scarce supply for hierarchal systems, its the proverbial big bucket where the shares that fall out into it meet a smiling face at the bottom. When the bucket fills up, systems hierarchal behaviors install market pricing component, so that their interests can be duly rewarded.
When long periods of persistent buying, precede market adjustments like this one, and the data / money flow has been decidedly positive during the period into the present, you know that the shares purchased were never located.
We have no market prices, we have systemic capricious intent overlaid and extruded through the entire complex.
This epidemic of purposeful churn has become the norm of the last 5 years. There is little chance that investors will see market prices until some legal challenges are made, or until system interests own everything worth anything.
Until such time, maintain a focus on Fundamental forward demand, adjusted as needed to all rubiks output. |
