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Strategies & Market Trends : Waiting for the big Kahuna

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To: Kip518 who wrote (32928)11/2/1998 9:56:00 PM
From: Bull RidaH  Read Replies (4) of 94695
 
Kip,

Here's the link to substantiate Fleckenstein's claims of the smart money finding themselves short during much of this recent rally:

marketgauge.com

I wonder if the stats in that chart factor in the specialist using a hedge against their short equities positions (such as long futures or options contracts), whereby their net position could actually be long.

In any case, substantial market dips do tend to quickly follow this level of short-sidedness amongst the smart $$$, as seen from the past on the chart.

Regards,

David
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