The Plunge came in after gapdown open, hit with 3-4 big blocks, they wait til after 1pm when volume is lowest, BOOM, hit with 3-4 big blocks 15-50K sh, then they PUMPED IN 250k+ SHARES AT THE CLOSE LAST 15 MINUTES, this is the most criminal manipulation in the history of financial markets by the most criminal administration in history.
What does the plunge proetection team do when inflation grips the market, the dollar sinks and foreigners quit buying our debt. Interest rates will eventually head up and put the kibosh on the equities market.
From what I can see and read it happens every day with varying degrees. All of this manipulation is adding greater and greater chaos to the entire financial system.
The meltdown in OTC derivatives is building so much momentum that no amount of quasi-governmental intervention will be able to stop the vortex they've created. In fact, its just feeding it.
At least in the last 45 minutes of the day there is almost always an opportunity to sell them more calls most days.
This crooked ass government of ours keeps manipulating the markets daily. It is like a spring being wound and eventually will break and then look out below - the market will fall off of a cliff and nothing the PPT does will stop it.
At least in China, you expect the government to be putting out propaganda. Here the average guy thinks he is getting real info! And now there is no M3 report to show how these crooks are printing money faster and faster (from 7 trillion in 2001 to 14 trillion in circulation today!!) Wonder why gold and silver have tripled and still flying.
Today they didn't have enough resources to fight the news on the AMBAC law suite and the no bailout news for AMBAC along with the foreclosures. The did manage to hold commodities down even with the dollar tanking and inflation clearly rising, which there plan B when they can not prop the stock market up.
Here is a link (which I will post separately)that gives what I believe is a good well informed estimate of M3 and interesting data you don't always get from the government information sources:
Yep...they are really keeping this afloat artificially it seems.
I guess if they do so, we can still profit though...even it seems like very long term they are just delaying the inevitable.
I played the markets short today thanks to the blog at www.tradersbase.com
Gold and MUR were other great calls from there. Basically no heat trades. :)
Good luck tomorrow