Monday, August 16, 2010

Kind of bizarre numbers today in the S&P 500. Our $200 million has apparently put money in on both the up side and down side. He had his half-in stake on the positive side yesterday, and now today he took some of that positive money and put it on the negative side. I believe this is one person or entity doing this. Judge for yourself.

The positive/negative numbers in the S&P 500 for the past week plus today, oldest to newest as you go down the list:

89.83/192.25
240.23/190.91
94.72/199.61
83.81/213.10
210.82/210.72

So that was last week. You can see the $200 million man in on the positive side on Tuesday and Friday. Then the numbers for today in the S&P 500: 177.68/247.81. I suppose it's possible that the negative number could jump from 210.72 last Friday to 247.81 today, but I strongly doubt it. That has to be some $200 million man money. And then you can see without the $200 million man, the positive numbers were around 80s to 90s last week. So there is very little chance that it jumped up to 177 today without some $200 million man money. Perhaps he wants to keep his up position, not sell it, but he wants to cover his butt with some negative money for now. I think the market has to get rid of this guy both up and down before we go either direction.

In the all-important Nasdaq 100, the result of dividing the higher number by the lower number for the past week and today is:

2.23, 2.24, 1.93, 1.63, 1.59, 1.72

So we're back down to numbers where we could go up ... or down. I can't tell you which way we're heading. It will be interesting to see the bucking bronco market get rid of the $200 million man in the coming days, both up side and down side.

Rob