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Non-Tech : Bill Wexler's Trading Cabana
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To: ggersh who wrote (5784)7/14/2009 3:56:45 PM
From: RockyBalboa  Read Replies (2) of 6370
 
This happens both ways. Down moves (ie, runs in SKF, FAZ) have been often a bit more pronounced thanks to skewness considerations as well as correlations between stocks increasing fast when a sector (e.g. Banks) is under pressure.

What I often saw is that towards the end of the session moves became exaggerated (can happen both ways, more in drops):

example; FAZ got pounded very hard yesterday towards the end of the session when it fell from 50 to 46 and at low 46 it was relatively cheap, by a good point or two.
This corrected only today; with the general market up a half percent (S&P +5), FAZ still slightly green, FAS didn´t gain.

I learned that when I shorted FAZ at 48 today, thinking it is too expensive (given that the market was flat) and was wondering why it is so strong, it took quite a while until it gave back its gains.
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