View Full Version : PPT hard at work today

4th December 2008, 20:39
Whenever we get these runs of closing sell-offs, I like to watch the ticker. Today after 3:30 as the Dow was plunging, I saw at least three big jumps of 50 and several of 20 and 30. But for these the Dow would have been down by at least 500 but instead was only -200. To me that is direct evidence of intervention. The ticker doesn't jump by 50 under normal circumstances, particularly when its selling off.

So, while the Fed is strangling the markets of leverage, its propping them up on its own. Their threshhold seems to be the 8000 mark; the last time I saw this was on the way down to 7900.