Quote from waggie945:
True.
So many conspiracies . . . so little time!
It is as much of a conspiracy as the specialists gapping up stocks, shorting the hell out of them and bringing them down below the previous days close as the know it all traders try to rationalize it with technicals & fundamentals.
It's simple market operations and the government has admitted to it. I vaguely remember the article which was posted right on ET a few months ago where one of the officials was interviewed and he stated that the Fed did start stepping in after seeing the 1987 crash.
It's just common sense, almost every other country with a stock market does it as well as with the currency market. Who cares when they sell it, it is just inventory control, just like with the specialists and MMs. For all we know, they sell it at a "loss" at a much later day but it does not matter because it is about controlling a decline.
If you consider this a conspiracy, you should not even be trading. The bullshit NYSE & Gang has pulled these last two days tops any type of "conspiracy" the Fed ever had. The largest market in the world, the currency market is rampant with manipulation from countries fighting for purchasing power and traders calling their bluffs.
