Originally Posted by
KW
If you were watching the US indices at close, on Monday they fell 1% in the last 2 trading minutes. This time it fell in the last hour. Selling into close is usually the professionals getting out (well, whatever they hadnt already managed to offload at higher prices). Buying on open is the retail muppets.
One of the reasons all the Wall St banks have put out client notices telling everyone to buy the dip, is so they can offload their prop trading positions to the muppets. They desperately need retail to stand in the market on the buy side. Ditto the hedge funds. Just wait until they have finished selling, and the retail investors wake up to what they have done, panic, and then offload their holdings. That my friends, is when the bottom will be in :D