Posted on 02/12/2009 1:07:30 PM PST by central_va
(Excerpt) Read more at finance.yahoo.com ...
Do I need a tin-foil hat or could the stock market be manipulated?
The Chosen One ordered it up. He will next depart the Red Sea.
I don’t know, but 8000 +/- seems to be where it wants to be now.
At the end of the day, it still closed in the red continuing the Obama down trend.
The stock market is pure manipulation. There are only a small number of companies on it and daily issue press releases to say good news or cover bad to raise their stock value.
Most likely it's news that stimulus will pass.
You will see the market go up when it passes as this means money for business is coming in. True it's gov't money but it's short-term money nonetheless.
Thus, there will be a relief rally. I see the market perhaps rising to 8800 or so shorter term.
Pay no attention to the man behind the curtain.
If anything... the market is primed to go higher this year.
Supposedly the market has gotten wind from the O admin that mortgage relief is on the way. At least according to that Alexis Glick on Fox.
Soros
Run up?
This is just another desperate measure intended to stave off the plunge to new lows. But since that plunge is inevitable—it's only a question of when, not if—it's just more money that the government doesn't have being thrown down the toilet.
Is this a reversal of the $550 billion sell-off on Sept 15?
Is this engineered to make Obama look like a success?
S&P and Nasdaq rise after mortgage plan news
* Thursday February 12, 2009, 4:10 pm EST
NEW YORK (Reuters) - Stocks staged a late rally to close mostly higher on Thursday after Reuters reported the Obama administration was working on a program to subsidize mortgage payments for troubled homeowners.
* According to preliminary closing figures, the Dow Jones industrial average (DJI:^DJI - News) ended off 6.77 points, or 0.09 percent, to 7,932.76. The Standard & Poor’s 500 Index (^SPX - News) was up 1.45 points, or 0.17 percent, at 835.19. The Nasdaq Composite Index (Nasdaq:^IXIC - News) gained 11.21 points, or 0.73 percent, to 1,541.71.
* “It’s being viewed as a positive both for the mortgage industry and home building industry as well,” said Richard Sparks, senior equities analyst at Schaeffer’s Investment Research in Cincinnati, Ohio.
(Reporting by Leah Schnurr; editing by Gary Crosse)
Copyright © 2008 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
PPT BUMP
No, from a trading perspective there was ABSOLUTELY two totally distinct SERIOUS reasons for the runup: The announce that $50 bil would go towards refi’ing delinquent homeowners. Also, the big dump today was almost entirely due to happenings in Europe, so that if/once US markets uncoupled, the slingshot effect was to be deeply feared.
I’m not, by the way, saying anything fundamental has changed, but the way you phrased your post, there indeed was a very blatant reason for the blastoff.
People bought when the stocks were lower, dow comes up.
However, Me thinks, the FED is buying, and they have been doing this for a while.
Obambi will make sure that is killed. He, Pelosi and the rest of the goons can’t control unless everything is oppressed.
Well-stated
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.