Jul

10

if so, the SPU set a high of 952.75 on June 19 and 858 is 10% away from there and we're at 872 and have been as low as 865. One queries a la Sidney Alexander and Paul Cootner of 50 years ago, whether a move of 8% or 9% from a high is inordinately likely to go to 10%. Or "am I just a fool" for posing such a query considering the changing web, the cronies, and the everchanging cycles?


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4 Comments so far

  1. Gangineni Dhananjhay on July 10, 2009 9:09 am

    What a strange coincidence ? Speaking of consiliences the Indian Market ( S&P CNX NIFTY ) registered a 4% down move in the last half an hour. The Gravitational pull of round number 4000 is difficult to resist for NIFTY.

  2. Chris Monoki on July 12, 2009 1:37 pm

    If high-frequency trading algos are beating ‘true’ orders, like some sort of front running, then I suspect sell orders will be preceded from HFT sell order, exacerbating the downside (as it did the upside) and increasing volatility. So, in my view, yes, an 8-9% selloff could lead to 10-plus percent, led by HFT volume.

    Keep pressing,
    Chris Monoki

  3. david higgs on July 13, 2009 11:48 am

    well, earnings season is upon us and one shudders to think if they missed by just a penny what they'll do to good stock given the current state of affairs…

  4. hh on July 22, 2009 12:39 pm

    can I just say to David: the market is going to go up even further: a lot! And the only reason being: fundamentals don't matter, economics don't matter…it's cash sitting at the sidelines. I truly believe that every fund manager is sick of poor performance the last two years, they are sick of the market going down, they are sick of being scared to enter. So what's left to do but buy the whole godamn thing, buy everything you sold 6 months ago and keep buying it until cash levels are back to normal… just my 2 cents…:-)

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