Thanks Treggs, I've read Volt comment the other day about how if...

Thanks Treggs, I've read Volt comment the other day about how if the discount would disappear he expect the market to turn south. MKy question is why that is the case? is it merely from years of observation or is there a logical explanation.
If you have time could you tell me what the play for intraday trade?
Ohh and what is the market indicating if its at a discount or premium? you've mention that it can be reasonable indicator.