The selling was real in my opinion, who would buy into this kind of uncertainty? There's wide open visible volume, it seem the PPT was bent on keeping the SPY from continuing down.
If there's one thing that spooks the market, it's uncertainty-as you can see by the downside volume as it became apparent Mubarak wasn't leaving, the market didn't like the uncertainty. Who in their right mind buys that uncertainty? The Fed.
Ever hear the saying, "When the missiles fly, it's time to buy"? It's not because of war time profits, it's because the uncertainty of war has been lifted and the market can start properly dicounting events without the uncertainty of whether it will or will not happen. This is just another example of PPT/FED manipulation in my opinion, the same kind of garbage that is putting this market in a situation of increasing risk. They don't want the "buy the dip" crowd to lose confidence in the Fed's Jedi market powers quite yet as the end game is still being mapped out.
Sorry if I sound a little emotional, but I find this disgusting.
Here's the opening for the Muslim Brotherhood and perhaps more radical factions. I'm going to look for the high beta/weighted stocks they manipulated the market with.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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