i dont think its actual traders putting that much weight into the news, but rather the ppt are engineering short covering rallies. yesterdays 200+ day when looking over some sectors out of curiosity, i saw some HUGE gains in autos, home builders and financials (esp mortgage related)
the sectors with the worst fundamentals and most shorted. its annoying at times, but at the same time, gifts for better prices for our positions.
MSNBC says the market is being held up in part today by shorts covering on Merill Lynch.
Let's see what happens when Bush has his press conference this afternoon on the mortgage crisis. I wonder what flavor the koolaid is going to be today.
i dont think its actual traders putting that much weight into the news, but rather the ppt are engineering short covering rallies. yesterdays 200+ day when looking over some sectors out of curiosity, i saw some HUGE gains in autos, home builders and financials (esp mortgage related)
ReplyDeletethe sectors with the worst fundamentals and most shorted. its annoying at times, but at the same time, gifts for better prices for our positions.
MSNBC says the market is being held up in part today by shorts covering on Merill Lynch.
ReplyDeleteLet's see what happens when Bush has his press conference this afternoon on the mortgage crisis. I wonder what flavor the koolaid is going to be today.