It concerns me that there is no ABC look to this correction... But Life is like that, could be the short selling..... could be that we have just been melting looking for buyers.
This looks like a developing basing move....
Wednesday, September 24, 2008
more of the spy
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3 comments:
TK made an interesting observation on a recent video. He thought the usual technical indicators are not working because of the ban on short selling.
I'm not sure I believe it, but I was wondering what you thought. TK thinks that typical traders will sometimes buy an index and short certain stocks within the index, or vice versa. Specialists will engage in short term short-sales from time to time.
With a ban on short-sales, the efficiency of the market has been hampered.
Your thoughts?
Well, lets not look at it like black and white,
Like I said, a can of coke is properly priced and there is no short selling there.
we are 2/3rds the way back to Thursday. and prices aren't as attractive.
I'd say the "BIGGEST" factor. is a ton of traders sitting on their hands, both out of fatigue, and "why risk money betting on congress", It would be a disaster if they don't pass this.
I'm not sure that congress won't suddenly feel like "they are bigger than the market"... It could get scary, then they will act.
Like bad traders, they figure with the 1000 rally we are out of the woods, and they don't have to do anything.... they don't realize that the market has it "cooked in" that they will act. and slowly Unbakes the cake.
Not very clear... but the more congress sits on their hands, the more traders sit on theirs... and that is how it's trading.
I keep wondering if I pick some up here if I'll get paid.
if it will be enough to compensate me for the risk.
of course last time I wined about that I caught a double...
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