You know us Indians have really become part of the fabric of America when this type of thing gets in the Journal:
But word around Silicon Valley was that Galleon had insiders at many tech companies, a so-called Indian mafia of assistant treasurers and comptrollers (though Raj is Sri Lankan). Many assumed that's how Galleon beat the market, eventually growing to $7 billion in assets.
Sigh. Between that and the obligatory Indian role in every TV show, it's clear we're just one of the crowd now!
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If you remember on 10/2, I described a market pattern where if they dive the market on day 1 of the month, the market heads around 10% higher from that low at some point in the same month. We went from 1015 (pre-market low on 10/2) to 1102, so it almost did it.
The opposite pattern exists - if the market has a large gain on day 1, but closes the day well off that high, then the market sets a much lower low at some point during that same month.
Looks like we retested the 50 DMA today from the underside and failed so that supports the pattern.
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