FINAL 30 MINUTE MUSINGS
A few theories so far on the why the market ramped in the final few minutes of trading on Friday:
1) first I heard it was these guys;
2) then I read it was RUT rebalancing;
3) then it was the SPY hitting the SMA 200;
4) the final theory - left for last was Cramer's who said "Was it manipulation? Was it short squeeze? Was it hedge fund covering? Blah, blah, blah. I will tell you what it was. A lack of sellers"
That seems a bit silly as their were high negative tick readings no more that 15 minutes before the big move higher- In addition - not more than an hour before the close equities were lower on the day.
Bottom line - I have no idea what happened but it really doesn't matter as next week it will be something else driving the markets higher or lower.
Dr. Brett opining on whether the move on Friday was the start of something big;
Barry and Floyd on the worsening loan problems;
Goolsbee saving lives;
BESPOKE with some sector highlights;
The newest stock market Oracle;
Finally - Bill looks at the last half hour via the VIX and SPX;
1 Comments:
a better explaination...
http://market-ticker.denninger.net/archives/1072-What-Was-THAT-Friday-Market-Close.html
Also, SPY might have pop the 200 SMA but look at the volume, pathetic...
I think SPX cash did not close above 200 SMA...
Post a Comment
Subscribe to Post Comments [Atom]
<< Home