PLS chart, page-9852

In all honesty I think by far the majority of this crap is all hedge fund/insto/shorter induced. I doubt there is a significant percentage of retail selling other than traders (and most of them are expecting to buy back in at a lower price). I reckon the bots have the TA models built into their programmes and they just run it making the TA essentially self fulfilling. I really don't think that for most of the movements there is any real FA factor involved and therefore retail behaviour, just other than an initial trigger that serves as an excuse. I think long term direction is set by FA factors and I think that at the edges retail investors matter because they get over excited or depressed and then react too late, but for most of the time I think it is just machines doing what machines do. Got no real evidence for this, but that is what it feels like to me - a great big clockwork machine.