Submitted by Tyler Durden on 12/20/2011 17:43 -0500
Dumb Money
Exchange Traded Fund
Momo
Once again, the momo and retail "traders" gets ripped off by the whales who take advantage of vacuum tube inspired momentum and retail bag holders praying for a few days that will make their year. From Goldman EOD market commentary: "Up, up, and away for stocks today. Europe gets the party going, and the music keeps playing for the US. The flow on our cash desk actually skewed to better selling – decent long-only selling (consumer staples and information technology) vs. small hedge fund buying (info tech and energy). ETF desk was better to buy, but only moderately so. SPX 1260 (200d) still the level to watch above – held twice in June, sliced through in August, been a consistent top in October, November, and December. SPX closes up 36 at 1241 (+2.98%)." And incidetnally as was noted here minutes ago, "Strange to see EURUSD and SPX decouple so sharply, but year-end brings funny things." Translation: thank you dumb money stock investors - without you the Putnams of the world would have nobody to sell to.
http://www.zerohedge.com/news/retail-fooled-again-goldman-cash-desk-sees-better-long-only-selling-all-day?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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