Wednesday, September 29, 2010
Market Makers/Specialists Games
They just took the SPY down to 114.02, with a one -minute hammer reversal, thereby insinuating support is safe at 114.00 as the human mind gravitates toward the whole numbers anyway. Now watch the volume when the market breaks $114.
8 comments:
Transports look to be leading the market up. We'll have to see where it heads, possibly they might be disguising the true intentions by artificially holding the transports up today.
Speaking of games, notice how with GLD, "they" are working to keep the price of gold slightly higher than yesterday's close day after day lately because they know that that excites retail and grabs headlines, thus ensuring that they are able to offload positions and add shorts.
When it is all the hype, a fools game it becomes. Let's see if it becomes fools gold as the fools may be the ones holding it at this price.
Transports just went green and the spread between them and the dow is pretty wide. It may pull the market higher from here.
Treasury selling $2.2 billion of C shares. Need to keep market up until sale complete perhaps?
Brandt, what is 3C saying at this point. I know I have stayed in my trade much longer than I care to at this point and if the FED's is controlling this market and going to keep it afloat til November; than I might as well sit on the sidelines and wait till the capitulation trade starts. Just means that I will probably start the trade for the rest of you as my timing sucks. Must be that max pain level you have talked about.
Perhaps, than they will need to keep it up for AIG, GM, C and every other company they own a piece of.
The question is: Are they in control? Maybe they aren't and Wall Street wants to stick it to the Dems and even Ben and Tim.
Personally, I think the market tanks and they won't be able to stop it.
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