Friday, February 05, 2010

Was the Plunge Protection Team at work again today?

It's Friday.

For a trader going into a weekend long is generally not a good idea. Too many bad things can happen over the weekend with severe consequences to whatever position your holding. Generally, it's a good idea to sell going into the weekend so you can get some sleep and not worry and plan your strategy going into the next week.

Today the market was down as much as 167 points. Then, "miraculously" about an hour before closing bell the money came pouring in and the market finished at break even.

This doesn't add up. There doesn't seem to be any good reason for the upswing. The headlines in the morning were job loses and worries about crazy amounts of debt.

So, why did the market surge and break even. This week should have been a bad week, but someone didn't want the market to be down today.

Who could that have been? Hmmmmmm????

I'm guessing that someone was the Federal Reserve's Plunge Protection Team. Of course, I have nothing to prove this other than my gut feeling that was telling me the markets should have been down. That plus common sense.

I seriously believe something shady is going on. It's been going on for a long time. The is market completely unpredictable. It makes me want to stay the hell away.

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