I watched the NYSE by the minute last night. Profit takers sold 3 times before 1pm... each time buyers were waiting for the selling to stop and pushed the indicators back UP.. The last big sell off came about 2.30pm, every single stock on the DOW dropped half the days gains, and then at 3.22pm (maybe 3.23pm), buyers materailised out of thin air and pushed prices higher again. The size of the orders on each push higher were at least 10 times larger than the orders selling off.
Look at the trades in most stocks dropping today, ( well the ones I was watching close) there was no real big sell off, it was small orders from nervous traders pushed to panick level. The smart money was buying today, and with a positive DOW tonight, ( I will call 95 points), the Aus market on Thursday will be made up of buyers,,,, yes the people who sold today.....
Wednesday the 10th Sep 2003 was a classic bottom feeders day............
P.S There is sharks in them waters, the yellow life preserver will not save you, there is sharks in the water.
