Monday, Jun 29, 2009
Plunge Protection Team Moving the Market
Fund my Mutual Fund: The visible + invisble hand is everywhere
Some pretty good stuff on CNBC about the hand of govt moving the market. Buying futures and boiling shorts. Good to hear this sort of stuff from traders etc rather than people who see conspiracy everywhere. As I understand it GS have been instrumental in this.
View seems to be that this can continue for sometime but what happens when earnings don't support. Maybe start faking those, change accounting standards as happened with Banks.
This has all got to end very badly.
Posted by bellwether @ 11:38 PM (382 views) Add Comment
7 Comments
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1. sneaker said...
Search-engine this phrase "Sprott Visible Hand of Uncle Sam"
You'll find a well-documented PDF report which illustrates that government intervention is a fact of life.
Intervention is not conspiracy theory. It's just the way it is.
2. flashman said...
bellwether:
I said in a previous discussion with you that the US equity markets (and consequently UK markets) showed a strange low volatility, slow slope rise after the terrorist attacks. This went on for years and then stopped a couple of years ago. Now there has been the same type of pattern since March. Take a look at a 10 year chart and you will see what I mean. Its never seemed natural to me and no matter how far I go back I' cant see the pattern before 9/11
I always thought they did it because they thought that economic strength was the best response to a targeted attack on a symbol of their economic virility. It was kind of understandable then but maybe its like a drug addict thing.
3. techieman said...
i think you mean Fade it b/weather. Hi Flash. Bit of a toblerone market in cable and we popped up through resistance this morning (i.e. $ down) . This resistance around here looked about right to me (did say 1.64 / 65) and a thrust up to exhaust and reverse for the $ bulls also looks good - with some confirmation.
Stuck me toe in the Euro (long) the other day (looks like its gonna get bitten off - but its only a toe). A bit of topor all in all, remember its the end of Q2 today and the yankee doddles have the 4th July coming up so probably best to take a break...... or not :-).
4. techieman said...
Sorry b/weather my mistake you do mean fake.... probably soon time to fade.
5. bellwether said...
Flash I do remember doubting you on market manip, looks like I was wrong!
6. flashman said...
techie: torpor is about right. I finally pulled our long sterling bias because I cant get excited about it, or any other trade. It looks like a moment of order is upon us. Buckle up
7. flashman said...
bellwether: You were right to doubt it. We can never really be sure about anything but it's always worth thinking about these things