Whoa... Did the Market Just Call BULLSHIT on Bennie and the Fed?

[Landis82]

Quote from paysense:

I love it. In the long-run you can't manipulate the market. And with the latest Fed shenanigans: what goes up must come down.


I say we re-test the lows and with more bad news likely to unfold - along with the Fed having shot their wad (and credibility) - we continue with the (down) trend.

Even though many here say TA dictated two up days was a reversal???

Who ever said that the FED was trying to "manipulate" the stock and bond markets? Are you serious? Another conspiracy theorist on ET . . . What a shocker.

As for technical analysis, anyone that was worth their salt had resistance at the 21-day MA today at 1383.25 which happened to coincide with a 61.8% measured-move of the initial leg up (60.87 points) from the 1322.25 low on Monday which gave you a target of 1383.12 ( posted the other day on another ET thread ).

Today's intra-day high:

1385.85

 

[Landis82]

Quote from taipan77:

What a load of crap. What are these rating agencies for if there not going to cut the ratings of ambac and mbia, and they wonder why nobody will do any loans because the risk cannot be measured.
Oh well I guess it's in my interest for them to cut the ratings since, I'm short the market. Anyways I feel somebody is paying somebody off because they should already have downgraded by now. If there not going to call a spade a spade then they shouldn't be around giving ratings.

It's pretty simple actually . . .

The rating agencies have been late to the "party" in trying to QUANTIFY the value of these mortgage backed securities, as has been Ben Bernanke.