When the market is in overbought condition, as it is now, the assumption is that the smart money is getting out while the newbie are getting in.
How do they do it? I watch the BHP trading and I see massive buy/sell order, the assumption is that the massive sell order are from the big guy selling into the rally, but the buy order can be just as big, so who's behind the buy order? Or are they just taking a punt, i.e. there is no smart money, people are off different opinion, both the the large buy/sell order are from the big boys. If there really is smart money, then surely all the funds in the world would not suffer as the market goes down??
