In old England, disputes were solved by trial by combat with the winner winning the dispute. Modern trial and interrogation techniques put the subject under stress to ferret out weaknesses in the story line. Markets put their participants under stress to determine what is the proper price at the close. A trader who has an opinion will put on a position, and if he thinks its correct will hold that even when put under stress. He holds a belief that the price will be bettered. If his belief is not strong, individually and in aggregate, the price level will not hold, as the belief in the value of the asset at the price level is not strong enough either rationally or emotionally to withstand the stress. Also, if the bet exceed the trader's ability to hold margin, the price will not hold, as the belief is not support by adequate fundamental financial ability. As the market moves, this dynamic works to determine the proper price for the day.


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