Hi Mike; You should see inside the DOW this morning,
It's really wild, like a 30 cylinder reciprocating engine
that's run away , and going no where..it's pumping like
I've never seen before..so it's hard to say why, but I'll
try.
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UTX needs to be bought by the DOW indexers..they don't have the
cash and must be margined all the way, so a tug of war is going
on among them trying to re-allocate , investors just don't act
like some school of fish on this magnitude..
the internal pumping up and down is just wild, very wild today,
the index cant even keep up with it and is chasing the moves
like crazy , one time the index is up, the next down..but it's
lagging the stock moves , it's like some one racing and
pumping a car engine and not letting off the clutch..
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Bottom line seems to say money is tight today, but they don't
want to sell yet. This has to be indexers going or gone nuts.
The over head of this will produce a negitive effect before
it's over. |
