Thursday 18 November 2010

GM and spiked flat S&P day




What's with the US market today? Up over 1% out of the gates this morning, then steady as a rock.

This is the first time I've ever thought that the market is being "held" by ONE "investor".

But then I remembered something Don Miller had written in his blog: That markets tend to move overnight/european session, then volatility just disappears.




Yesterdays poll of where investors, well actually Marketwatch.com website visitors, think GM will close (I put in a emotional under 30$) had over 40% saying below 30$ and over 25% 30-35$. Now however it looks like over 35$ will be close. The percentages did change this morning to a more balanced view. But if your chips had been placed yesterday, 65-70% of people, myself included, would have been wrong.


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