Loading ...Just A Thought
Corrections like yesterday seem to come from out of the ‘blue” but usually just some small catalyst triggers it because market was so overbought that it was overdue for a pullback. Naturally, the longer, more extended a rally is, the more likely that when a pullback finally occurs, it will be sharper than if the rally had been more balanced on it’s way up. My point is the possible catalyst (reason or excuse) is the “investigation” of Robinhood. With that platform contributing largely to the FOMO, Momentum trade incorporating margin and option trading I could see that being the impetus for the techs to selloff.
I wasn’t aware of the “Investigation” of Robin Hood …Thanks for that Chartsmaster.
What have they done to trigger an investigation ?
I guess they are eating into the Main Stream Brokerages Corporate profits .
More about over encouraging use of options and margin and leveraged ETF’s for newbies with no experience. Since they don’t charge commissons, first to do so, that is how they make money on margin lending and in particular order flow. Paid for order flow, the “dirty” little secret on Wall Street. High frequency traders front run the orders. HF trading should be illegal. It is legalized theft.
The primary catalyst is Time… 😉