Day traders beware of picks with large institutional holdings: 10/31 is typically the "end of the year" for mutual funds who report their holdings based on portfolio composition on 10/31. Fund managers will be pruning and adding symbols, a strategy known as window dressing.
From the destruction in shareholder value this week you would think that there is a fire behind the smoke, but the company is being removed from the S&P Small Cap 600 index, though, which is part of the reason for the sell off. The impending delisting is another...But if the Naz decides to grant NYFXE another extension..
It might be a good bounce play..do your dd and watch the newswire Monday...
End of October "window dressing"...a quote from mcmike, posted last year, and bears repeating...
"Day traders beware of picks with large institutional holdings: 10/31 is typically the "end of the year" for mutual funds who report their holdings based on portfolio composition on 10/31. Fund managers will be pruning and adding symbols, a strategy known as window dressing."
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