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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (22883)	8/3/2001 6:58:57 PM
From: ajtj99	Respond to of 30051

George, don't discount that some smart money may close their shorts before a weekend. It is a range trading market with volume controlled by hedge traders. That makes it a perpetual war between shorts and longs until we get clarity on where the market is heading.

To: Crimson Ghost who wrote (22883)	8/4/2001 2:52:44 AM
From: GTC Trader	Respond to of 30051

<< The idea is that the smart money moves near day's end while the dumb money does its thing the first hour. >> Let's see if I understand this. Dumb money buys in the morning and the market jumps up. Smart money buys at the end of the day and the market jumps up. Then how come the market is moving sideways and not up? Oh, yeah! No one is buying during the rest of the day! ... except during the lunch hour so that Zeev can get rich on his daily raids! So, in summary, Smart Money bids the market up at the end of the day. Dumb Money bids the market up at the beginning of the day. Lunch Money bids the market up at the middle of the day. And gravity keeps relentlessly pulling the market down, down, down. GGG - gtc