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Just say this it is time for me to do a man uncle.
I predicted that Scott's brother stopped a Brown's win in Massachusetts would be good for -- 401K.
But since then the Dow is down more than 6% -- since that election.
Due back with the company and now from Newton Massachusetts Politico -- the president of -- Cullen & Associates and he's the author of the book you handle border change.
-- I clearly got it wrong -- -- that the Massachusetts election upset -- would have an effect on President Obama.
It would started towards the center stop spending so much money stop running up the deficit.
While I was completely wrong.
And a market went down.
So what what -- well it was my mistake.
Well -- -- don't feel bad you're you're doing a wonderful job in my humble opinion.
And I I feel that what happened here is a coincidence rather than a cause if you really want to look for what drive stock prices up and down every day.
You need to understand why the big investors are doing what they're doing so to give you an example.
Of trading on the New York Stock Exchange is done by.
Flash traders we have a hedge fund or Goldman Sachs has a computer right next to the exchange.
It gets the order data right before it goes into the exchange.
And so for instance let's say it knows that you know apple is trading at 195 dollars and fifty cents and orders coming -- to sell five million shares.
And so got at Goldman -- -- the -- -- is -- you know I'm a short that stock.
Before the order gets executed so that I can make money when that five million -- trade gets executed.
And therefore make some quick money figured -- that if you're kind of thing that might happen you're saying is rigged.
Yeah I mean is that I mean exactly to fix it actually.
Is it well exactly.
Exactly I mean that's an example of what a big volume trader might be doing and why they might be making a trade so I'm suggesting is that.
That's the kind of information that we would need to know.
In -- decide whether the market is going up or down.
This other information just happened to happen at the same time I mean.
I in the stock market could have been going down because I -- on that day there's no direct cause and effect linkage it's just a coincidence.
We'll give me your view of the long term outlook then if -- down to just below 101000 right now and we are 9973.
Is this the stock of -- selling trend for the early part of 2010 what's your reading.
Well you know it's just to guess I really don't know but I -- that left here we had the same thing happened that in the in the first quarter the market fell down and then.
It's sort of bottomed -- in the first week of march and that -- had a recovery for most of the rest of the year and maybe that's what's happening now is there's some kind of reasoning behind some seasonality.
That happens where investors sell -- in the first quarter and then -- the market hit the low and everyone's all discourage and that's when.
The Smart when he gets back in and and there's a lot of money -- on if you do it that way.
Yeah got to go out of -- -- thank you Graham.
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