Was Friday's Rally Just a Hedge Fund Short Squeeze? [View article]
fatcat:
Blaming these crazy moves on the "lack of specialists" is just wrong. In the crash of '87, almost all of the NYSE action went through "specialists", and yet the market was down 20+% in a single day. When things are bad, those guys (just like the Nasdaq market makers who stopped answering their phones) will step back in a hurry.
Was Friday's Rally Just a Hedge Fund Short Squeeze? [View article]
Blaming these crazy moves on the "lack of specialists" is just wrong. In the crash of '87, almost all of the NYSE action went through "specialists", and yet the market was down 20+% in a single day. When things are bad, those guys (just like the Nasdaq market makers who stopped answering their phones) will step back in a hurry.