Yesterday, the $200 million man was half in on the up side. Today he switched to what I believe is about half in on the down side. Again, it's such a large number on the down side that I would normally believe he is all in. But in this case, I think this number was extremely large without him. So I think he's just half in. S&P 500 numbers so far this week:
Monday: 73.30/222.31
Tuesday: 207.26/223.71
Today (Wednesday): 65.12/359.15
And we managed a small gain after being down early. Hate to say it, but I would have expected a much larger up day with this big of a negative number. This is like a week or two ago, where we had similar numbers on the down side and did go up, but not any huge up days. I'm still wondering if we have to have the Nasdaq 100 go negative before we reach an important low. The Nasdaq 100 numbers so far this week:
Monday: 115.48/98.74
Tuesday: 114.60/88.92
Today: 117.99/86.57
So the Nasdaq is holding steady, which is not good if we need to go negative before reaching a bottom. The question is, what will it take to get the red number larger than the green number? How far down do we have to go? Notice that even though Tuesday was a fairly large down day, the positive number actually ticked slightly higher for today. So yesterday's fairly large down day didn't scare anyone in this fund. What will it take to scare them?
Rob
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