Victor, "...but who is selling."
I recall, roundly, at what prices the hot money came in. Now, just watch trading volume on the way back down for a hint of their departure. It seems after so many years that certain issues will also develop a few tell-tale benchmark prices. The other traditional means of reckoning as well...p/b, etc.
Funny sometimes, too, how news that would ordinarily move a stock's price just doesn't register for some of these issues. I recall a large asset sale two weeks ago that I thought would move one of them. It didn't. Seems, in that respect, the trigger is more often news of a national and economic nature than news on the company itself. All the more reason that the volumes, when they come, come heavily.
Frankly, I don't think some of these fund managers are watching these stocks like they should. One young woman at Merrill Lynch used to do an outstanding job, not only at trading but valuations also. |
