Yesterdays drop from 7.6 to 6.8 and then back up to 7.5 does not seem to be much more than either day trading or accumulation. IF it is an indication of the Market then the market seems reasonably happy at or above 7.5c
And today seems to be the case also. Some here really hoping it will go that way [the down rampers] so they can ride on the coat tails of the BOT.
This strategy works at times....but can backfire also. Running the SP down during the day to pick up stock and flog off later at a higher price only works for "strong stocks"
Picking a weak stock to do this can result in owning it cheaper than the start of day, but crashing or forcing the price down beyond your purchase price! I guess that IF that's what they are doing then SPX is not a weak stock? Better hope it rebounds playing this game!
Yak52
ps. this is not a ramp just an observation before anyone gets upset!
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SPX Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
