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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (2065)	4/18/2001 9:45:59 PM
From: ahhaha	Respond to of 24758

It means that the market makers in all markets posted a price that you will have to jump to reach. Only those who feel they have to jump will do so. There's a lot of structural short money out there which is seeing the handwriting on the wall, but they can't get out in size without sacrificing much of what they have gained. So they'll wait. The public shorts had to bite the bullet and did, but the public isn't doing much shorting. They never do, contrary to the millions of claims of hack amateurs on the Yahoo boards. The result should be that the market doesn't back off much, but only consolidates as these institutional shorts throw in the towel. Just think of Max Werdegar or Cramer types. Can the market go higher? No evidence of that is available yet. What is evident is that other institutions aren't buying the FED cut as a bullish indication. Instead, they are aggressively selling into any rise. The rise since April 2 has been led mostly by traders, position speculators, and the public hacks with flat institutional participation, if that. So the result between shorts covering, more public uninformed buying, and institutional selling, is price equilibrium, i.e., consolidation, until some new random irrelevancy can get enough of them to accidentally zig in a particular direction.