grind lower... why?, page-4

@Warhorse: with all due respects - that's a load of cobblers! How can you say "none of the buying has been real"? Of course it's real - and so is the selling and shorting.

Your reference to institutions is naive at best - no institution has to reveal what they have bought, sold, or hold - unless they are a substantial holder. That is - they hold over 5% of the company. So the Morgan Stanley/Mitsubishi Financial combo are substantial holders, and you're right in that we haven't seen any change in holdings notices from them for some time. But of course, that also means selling as well as buying. Or lending.

There would be a multitude of institutions sitting below that 5% level who have been buying, selling, shorting, and stock-lending - and they don't have to let the market know ANYTHING!

So how you can say that the turnover has been retail-dominated I have no idea. I would be very surprised, actually, if there were (a) that many shares in retail hands, and (b) that those retail investors/traders were buying and selling in the volumes you suggest.

Also, given the amount of bot trading that has been occurring on a daily basis - just look at the course of sales data - retail traders don't have the access to that type of trading unless done through their broker rather than direct.

Are you seriously suggesting that hundreds of millions of shares have been sold, bought, etc by brokers on behalf of retail investors? I seriously doubt it.