"the bottom on 4/14 was not the ppt, it was market exhaustion" - sure, I have no problem with that. I was referring to 4/24. The dead-cat bounce was over, the market had started to slide again, it gapped down that day and started heading back to its lows, when lo and behold there was an outrageous surge of buying at the stroke of 3:00
207.61.23.98
It seemed so out of place with the way the market had been going. It looked to me like an attempt to jump-start the market, to give it a boost so that it would start running again.
Why shouldn't there be a plunge protection team? There are players out there with enough money to move the market, maybe not individually, but I bet they can do it if they team up. Why would they not use this power if they have it? It must have seemed like a reasonable bet to buy in size at that point in the hope the public would get excited and take the stock off their hands at higher prices. And in fact it worked, although probably not as well as they hoped. It seemed like a good time to make that move. For one thing it was then or never. Also it got people talking about a double bottom, which seemed plausible.
Of course this is wild speculation, and I agree that sometimes the talk about market manipulation sounds too much like crackpot conspiracy theory, but on the other hand, why would those with power not try to use it?
I doubt I'll ever figure it out but if I do I'll let you know in double-encrypted code! <gggg>
Fun-da-Mental |
