I never believed in the govt manipulation in the stock market until the mid to late 90's. Remember the Asian crisis? Hong Kong went in and bought their own stocks. They admitted it. That was a first. I believe folks attached with our govt do the same. But they do not admit it. I think the 'plunge prevention team' was perfected under Rubin. I am not prone to believing in Conspiracy theories and I do not believe in ghosts. However, I have seen way to much to believe the stock market could come back on it's own so many times.
The Asian collapse and the Asian's admitting they bought their own stocks for stability ---sealed the deal for me. That was Rubin all the way. On top of that, I have seen way to many situations were the stock market would be in a free fall and then mysteriously Goldman and Company jump into the pit buying the spoo in 50 lot clips ----like nothing I had ever seen. When they do it ---it is not like they are doing it crafty. For instance, if you are around the pit for any length of time you get a feel for how they work size for hedgefunds and program trading etc. This was totally different. It is as if the 00 accounts says start the buying and they don't give a shit how many or what price they pay for the contracts. It was so blatant. I will never forget the Asian collapse. It was as if God himself put the bullet bid on the spoo.
On Sunday, we will read an article about how NFP volatility was crushed by a government plan to prop up at the market without a ppt. Newsflash!!! I can see it now...... what's that about aliens? I'm gullable right now so hit me with it...