Actually if you dig a bit you will find much better.. I actually got in alot of arguments over the last year with folks regarding PPT and how everyone immediately cries manipulation when the market makes a huge/unexpected recovery like it did today : )
I dont really store/bookmark much which is a huge mistake, but there are alot of references to the existance of the PPT and I think its safe to say there is 100% no doubt they exist, but the question is to what extant they get involved and how to recognize it.. What perplexes me is I read a huge piece by Greenspan talking about the crash of 1987 and he said over and over that he dosnt believe in the FR getting involved in the markets normal ups and downs, and the only time he felt it acceptable was in situations like we had in 1987.. and even at this point he admitted that the following day, all the feds. money did little to stop the selling and they had virtually thrown hands in the air until the markets got saved by IBM, GE and such announcing huge stock buy backs and that ended the crash..
The bear in me cant help but look at the massive rate cutting, and all the liquidity being provided to help the economy and think that possibly the powers that be realize we are in horrible shape here and failure to keep this ship afloat could bring the game to an end in a bad way.. Perhaps this explains why 'they' might feel the need to keep this market afloat if for no other reason than to keep the consumers from realizing they are so deep in debt that it will take a miracle to recover themselves :) ?
Hah! what a coincidence.. I just realized I had this Roger Waters ablum playing while typing this:
The powers that be
They like a tough game
No rules
Some you win, some you lose
Competition's good for you
They're dying to be free
They're the powers that be
They like a bomb proof cadillac
Air conditioned, gold taps,
Back seat gun rack, platinum hub caps
They pick horses for courses
They're the market forces
They like order, make-up, lime light power
Game shows, rodeos, star wars, TV
They're the powers that be
If you see them come,
You better run - run
You better run on home |
