hmm, not just shaeffer. more paranoia from martin goldberg.
Tonight:
It was interesting that yesterday, the QQQ shares traded more than 150 million shares, while the full Nasdaq index traded only 1.8 billion. The last time QQQ index shares traded that much was when the Nasdaq was in similar peril in May. What I suggested may have been happening in the article of a few months ago appears to be happening again!
June 6:
About three weeks ago, it looked as if the Nasdaq was going to break the neckline of a complex head and shoulders pattern to the downside. That would have resulted in technical damage too much for a world of chart watchers to ignore and not act upon by selling. But at the very moment when it appeared as if the Nasdaq was in severe technical peril, an apparent large buyer of the QQQ index stepped in and saved the day. As is usually the case when a head and shoulders neckline is whipsawed, this was followed by a sharp and tradable rally. Tonight I would like to explore this recent trading action in depth. Is there a defensible “conspiracy theory” affecting recent market action?
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