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To: Ilaine who wrote (30557)10/23/2000 6:23:20 PM
From: GraceZ  Read Replies (1) | Respond to of 436258
 
because the amount of ready money chasing the available float ought to have a positive correlation with broad market movement.

This premise is incorrect for the reason I stated previously. Money flow can be distinctly negative in a rising market, it can be distinctly positive in a falling market. Price is determined at the margin. If your premise were correct Japan would be experiencing a rising market, they have a ton of money on the sidelines and people are avoiding the market like a corpse. Prices rise when people are willing to pay more than the last price, this can happen for many reasons. It can happen with very little money net in.