Friday, 12th June - Fall Out Day, page-9

The market is far from done. It was overcooked and this is a natural pullback at the 61.8%. It´s very rare to see the 61 broken at the first attempt. I guess we all shorted or tried at 6200 (mine was at 6250 so missed out. greedy) creating the cascade effect. The same people that bought on hype will rush to the gates at the same time, creating a selling vacuum as no one else is left to sell.
Simultaneously, all fund managers who missed out on the rally will jump in, as each of them wants to close the quarter with a better performance than the other. They got the money, and that´s their business. Who´s gonna be the fund that has underperformed retail? Almost a matter of pride I´d say. Lots of money in the sidelines and no one left to sell will trigger a parabolic 5th wave. With so many jumping in late, and all gains for the last 2 weeks wiped in 2 sessions, is anyone really betting on funds closing the best quarter in history with a 2/3% gain only?
Money is much harder on the downside than on the upside, especially when it looks too obvious. 98% of us would be tipping meltdown at the moment, and extremes don´t happen when there is so much consensus. I might be wrong, but if there are some signs of life by 3.45pm I´ll do some shopping. Just in case, extra tight risk management rules in place. All the robinhood traders are selling or have sold today. Defs not wise to join them. Think contrarian...