Look up the Plunge Protection Team on the web, I have been writing about this for many years. Many of my blog posts cover this, the PPT has been more active than at any time in history during this stock market rally. I am backing off of this now because of the way this admin is going after any dissenters even breaking the law to do it. They do not want opposition.
The reason Barry and Co refused to honor the law and disclose in the Fox law suit all the details of the money was partly due to revealing the transactions of the PPT conducted primarly at GS. Alot of the “derivative” losses were buy programs in the Stock Indexes that lost billions last year. They had to make them whole on this or expose what these losses really were.
This is not conspiracy theory, it has been going on for a long time. Any trader with experience is aware of this. Ever wonder how you heard the market was down 150 going into the last hour and miracously recovered to close unchanged or up? These mystery recoveries not always but often on these days are the result of buy programs initiated by the PPT through these large firms, that trigger stock buy programs with the large mutual funds.
It is what it is no sense bitching about it. It has helped avg Joe recover some of his lost money in retirement accounts this year. They will try and support this market now on this attempt at a decline. It will be interesting to see what happens if we hit a 20 day low in the indexes. Alot of funds sell at that level, and if enough volume comes in on the sell side, the PPT cannot stop it ala last year. On these light volume days like we have had the last few months, it is very easy for them to come in at the end and prop things up. This is because we have not hit any momentum exit points yet. At some point we will if even just in an orderly correction, then we will find out if they can pull it off.
