Saturday, September 27, 2008
plunge protection team (PPT)
folks, i've missed to trade the late recovery of DJIA on friday :O((. why? i came back home from sports, turned the PC on, started my trading platform and saw that a huge DJIA increase has started just 5-10 minutes earlier :o((. after an increase of 100 point there was not a good risk-reward-ratio anymore so i didn't trade. well, the index moved up another 60 points as there would be no trading on monday, but it doesn't matter. how obvious are the actions of the plunge protection team (PPT)? it is unbelievable what a strong buying happens in the last 1 hour of trading! there was sooooo much opportunity to buy all these stocks during the day @ much, much lower levels! but that massive buying short before the weekend? do they have no fear that on the weekend happens something very, very ugly and the stock markets opens with a huge gap down? do they have no fear to lose that money? btw, see my posting from 09/22/2008 to read my opinion about the origin of the money involved :o)). well, i believe that THE ONLY GOAL IS to move the DJIA (at any price!) a significant portion higher to signalize the crowd that there is everything right in the financial markets ... a fool who believes that!