Wouldn’t you just wish to be a fly on the wall in the PM trading centers in London and NY where the buttons get pushed to buy in/sell short at market opening at the lowest/highest pricing, where afterwards the market does an enormous about face? It would be even more interesting if a “regulator” was observing then laughing all the way to the bank followed by the feigned ignorance of our “elected” representatives.
“…you'll see a take-down coming out of London at every close. …”
It’s more like London takes it down prior to the opening of the NY market. Then before any small fry in the NY market gets the opportunity it immediately spikes upwards forcing many to buy in at substantially higher more risky levels. This encourages the shorts to wait for an intraday top to take it down once again, and “the beat goes on”. At the NY opening the London market is still open for a combined effort to manipulate the price in the desired direction.