Thursday, July 09, 2009

Blatant manipulation?

I haven't seen a floor like this put under a stock for a while, never on the market as a whole. It's been interesting watching this market. There are pockets of bidders providing a floor; traders notice this and go long, quickly bidding up prices. This is followed by a collapse of bids causing prices to rapidly fall to prior lows only to be propped up by an invisible bidder. If this isn't manipulation by the President's Working Group on Financial Markets, then some huge hedge fund or group of hedge funds is loading up on S&P futures.

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