RAOFLMAO and loving it. What a circus....BHP, materials and energy up.
I think we can expect ANYTHING in the markets in the coming weeks.
:)
The hedge funds seem to be have been running around like chooks with their heads cut off and I can only see that increasing in coming weeks because:
. last month was the worst month for them since April 2000. They'll be playing catch up (more churning?).
. they seem to have dodged the bullet on oil. SemGroup didn't. But the hedge funds need to make up some ground (more churning or have they got another gear/mode?)
. the banks are tightening their lending to hedge funds. (OMG is the party over! Gimme another drink). It's going to be harder to make 'good' (ie money) so we'll probably see some of them hit the wall
. I suspect it's been the hedge funds churning that has moved the money out of resources - into financials - now back into resources all within a period of weeks. (I'm exhausted gimme another drink).
Churning 1. An unethical practice employed by some brokers to increase their commissions by excessively trading in a client's account. This practice violates the NASD Fair Practice Rules. It is also referred to as "churn and burn", "twisting" and "overtrading".
2. A period of heavy trading with few sustained price trends and little movement in stock market indexes.
...and the media will be scampering around trying to find a narrative that fits and having 'who could've known' moments..
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