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PPT hard at work this morning 12/2/08

Submitted by meekandmild on Tue, 12/02/2008 - 11:02
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8,321.13 up +172.04 +2.11% 11:04 eastern time
Previous Close 8,149.09 Volume 71.86 Mil
Open 8,153.75 52 Week High 13,780.11
Day's High 8,367.24 52 Week Low 7,449.38
Day's Low 8,150.64

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It was kind of odd opening so much higher....

Submitted by LastAmericanStanding on Tue, 12/02/2008 - 12:14.

Especially after the bloodbath yesterday and the hemorrhage in the Aian markets overnight. With such a beating, you would expect a more 'sedate' opening.

But, the market responds to nothing the way we presume it should.

I liken it to a skittish horse.

I may not know the truth, but I know when I'm being lied to...

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I may not know the truth, but I know when I'm being lied to...

8,383.33 up +234.24 +2.87%

Submitted by meekandmild on Tue, 12/02/2008 - 12:10.

12:12 Eastern time 12/2/08

This is kind of a silly post.

Submitted by Economo on Tue, 12/02/2008 - 11:09.

I bought at the open, so am contributing to the gain. I guess that makes me part of the PPT.

Thanks for single-handedly

Submitted by hartman on Tue, 12/02/2008 - 11:11.

Thanks for single-handedly lifting the DOW 180 points. You have powers beyond your years!

http://federalfallacy.blogspot.com

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http://federalfallacy.com

It's a technical support level.

Submitted by Economo on Tue, 12/02/2008 - 11:20.

Lots of people are buying, for no more reason than that.

You give too much credit to the "PPT." They haven't been able to stop over a 40% decline in the market. It's we the traders who have the power.

PPT mission

Submitted by cooper11 on Tue, 12/02/2008 - 11:53.

is not to stop the decent...it's an expensive psychological tool to control the decent as to not alarm the masses. The old line in the sand was 11k points, the new line and slipping is 8k points. Traders are not trading; they're selling. Some are scooping up PPT assisted one day gains, the rest are fools.

Whatever.

Submitted by Economo on Tue, 12/02/2008 - 12:09.

The whole sell off has been techical. The high of the market was simply the resistance level marking the high of May 2000. An easy call. "PPT" is irrelevant.

What do you mean traders aren't trading? I'm trading.

They even admit

Submitted by alaney on Tue, 12/02/2008 - 11:08.

that the Fed will be using all this newly printed money to buy equity stakes in slumping business. Maybe this has been all by design after all. The Fed uses "public" money, which it prints for free, and buys equity stake in private corporations, which represents real value. And we all know who owns the Federal Reserve.....it ain't you or me.

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alan laney

good points

Submitted by legalizeliberty on Tue, 12/02/2008 - 12:11.

http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139/sizes/l/

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"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul

Oh they are out in full

Submitted by hartman on Tue, 12/02/2008 - 11:04.

Oh they are out in full force today.

http://federalfallacy.blogspot.com

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http://federalfallacy.com