QOTD: Bill King on Normal Markets

October 14, 2011 2:30pm by Barry Ritholtz

I am no conspiracy theorist, and my assumption is this has been an oversold rally. However, I love that Bill King (of M. Ramsey King Securities) asks the questions that others gloss over:

SPZ s rallied 13.75% from the pre-NYSE open low on October 4 to October 12 high. Normal markets do not rally almost 14% in 6 sessions. Normal buyers do not behave this way. Volume was lacking on the rally; there was little real buying. The compelling question is: Who forced SPZs higher and why?

14% in 6 sessions? That some serious shite!

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