It seems institutions have lost their appetites for stocks. If the market continues to drift down, at some point, more and more people will believe the market is heading down, then the volume will be picked up and momentum gathered to the downside; in other words, the market is going down in earnest. But, still a little bit early to jump to the conclusion. But if you are on margins, sell some to the sleeping point.
Judging by your comments, I assume that you must be a rookie in investing. The current market is nothing but in consolidation. Instititions never lose appetite in stocks because afterall that is how they make their livings. Trust me on this. I have a PHD in economics and have been in the market for nearly 30 years. I just made roughly 10k in shorting bidu and thinking of putting more money in ntes and sohu. I am also sorting goog.
Did your professor ever tell you that institutions always have appetite for stocks??? A PhD degree does NOT make a good trader. On the contrary, ego kills many who think they always right and the market is wrong.
Previously, I was talking about the market in general. In terms of NTES, more than 15 million shares have been changed hands above 71 dollars. Remember 15 million shares are about half of the outstanding shares. As a result, it's very hard for NTES to go back to the 60's. 70 is the bottom, sky is the limit.