Thanks Gottfried,
actually I am still in the office and have not down loaded the Worden data yet. I did notice the good performance of the "no-name" stocks during the day though. All I can say is that I find it unlikely for the small caps to rise while the new nifty fifty continue to do well, because I can't see why logically should anyone want to take a chance on an "untried" stock when the "quality" names are still doing well. In addition, any stock with market cap of less than 1B or float of under 30M will have hard time gathering institutional support on purely mechanical reasons.
For what it's worth, during the day one of the guys on MDA thread said he is noticing a subtle change in the character of the market's rally (for the better). Later, either him or someone else postulated that the money flow into block trades of RUT has increased. However, after the close, the same person said that upon further examination, money flow into block trades in RUT were actually negative today.
The actions of the market are mysterious to say the least, and a moment of clarity is hard to find. I am still partial to my theory that says this market has siezed to be an investors' market (or even a mutual fund's market) and is becoming an amature trader's market.
When I was kid, we sometimes showed off by passing around a live "fire cracker". You showed off how "brave" you were by (a) catching it, (b) holding it as long as you could (often only a second or two), and (c) pass along to the next person before you lost your fingers. I see a lot of similarities between this market and my childhood game; I knew that NSOL was going to fall even during its split, because so many players lost their fingers when it fell $40 in one day. I am not sure that many people will feel "brave" anymore with NSOL for a while.
regards,
Sun Tzu |
