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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Andrew G. who wrote (95208)	4/17/2001 1:59:10 PM
From: GraceZ	Respond to of 436258

"Despite remarks to the contrary, this morning's run was NOT just the action of Ameritraders. In fact, I expect the data to show that they were not overwhelmingly buyers today. I continue to detect the smell of burning mufu Clownbux. Judging from the Trimtabs numbers, a lot of sideline sitters were pushed into stock funds for fear of missing out on the bottom. That money has to be burned before we get any down. " I never said it was the Ameritraders, I said the "wild speculating public". That would include traders, they are the guys (and gals) who buy and sell 1000 up to but not including block size (10,000 shares). I'm sitting here looking at a two day intraday chart of the QQQ and the money flow turns negative halfway through as well as the blocks. The small orders and traders are net positive and followed the price up and then back down a little. It's a speculation game. The mufus have been doing that to some degree, but it's a little harder to daytrade a couple hundred thousand shares. I agree with you that TA is giving people the go ahead to go long. I still suspect that a lot of action we're seeing is traders getting burnt on their shorts. There is no way to prove it with my data, except in the smaller issues where the supply is obviously inelastic to demand. If anyone wants to look at the intraday chart they can email me. I can't post it to my site right now for stupid reasons you don't want to hear about. The QQQs are a pretty good proxy for the Naz, they aren't perfect because a lot of institutions short it to hedge long positions.