nice close

S

S2007S

very unexpected after all these crazy rumors!!!!


I can tell you right now ahead of tomorrows opening, Futures will be up about .5% tomorrow morning. They will open this market about 50-100 points higher on the open, where it goes from there is anyones guess. Is this the end of the "correction", I dont think so, I think its time to take a little off the table after each rally.
 
That was ridiculous. I hope some of you guys caught the ride all the way up (I certainly didn't). If that wasn't some evidence of the Plunge Protection Team taking some action I don't know what is. Along with massive amounts of short covering.
 
PPT to the rescue....Hank Paulson made some calls to his Saudi buddies...the lines from the Cayman Island accounts rang all over wall street. It should be noted that NYSE declining issues were greater than advancing..1800 to 1300.
 
Quote from Ivanovich:

I'm sure we'll see stock_trad3r any moment now to tell us how the correction has ended.
More...
Thought that was him buying the dip starting at 3:26 est :D
 
I was going to call out the PPT on that one but didnt want to be the first one to say it. I think it was PPT coming to the rescue. The market was looking a little shaky when it was trading below 13200. Seems a bit surprising to see the DOW up 150 points after the BSC news and Hedge funds blowing up left and right, im sure cnbc is getting ready to party again tonight. A funny thing is today the talking heads on cnbc said that this is a correction in a bull market and that this DOES NOT SIGNAL a BEAR MARKET. I think eventually these fools will be caught on the wrong side, they have to comprehend that BULL MARKETS do not Last forever and that the bear does make his way to wallstreet every once and a while. Why cant they just throw in the towel after 5 long year bull market, how greedy are they. I welcome the bear to wallstreet............
 
It's one thing having the PPT rig the close...only have to buy 30 stocks to move the DOW up. Nevertheless there is an ongoing flight to quality from the hedge funds, look to see more hedge fund redemption freezes this week. I doubt if the PPT can help the hedge funds, but they may be able to rig the market to look to put nice gloss on it.
 
I don't know about all this PPT stuff. From the daily ES chart it just looks like a consolidation wedge forming after a good week-long rundown in prices. Given the overall sideways direction of the indexes today, my guess is that some shorts were covering for profit.

As far as the PPT is concerned, wouldn't it make sense for it to start buying contracts in the overnight session? The amount of upward slippage generated would loft prices significantly higher compared to buying into a downward-moving regular session tape....

RoughTrader
 

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