I didn’t plan this….

by

but here I am.  I actually had another really great post, but watching the Market yesterday compelled me to write this. Market manipulation.

I don’t believe it.  I just don’t.   I believe that the markets in their current Bush/Bernanke/Paulson incarnation (incantation) are rigged beyond our wildest dreams (nightmares).was4

…..pour a shortie of Mr. Jameson’s.

So yesterday before the market open I’m paying attention to the Rah Rah Boys on CNBC and watching the Dow futures (down).  At 8:30 another horrible employment number came out and the market reacted.  It continued the same down trend that began around the New Year.  By high noon the market slides maybe 200 points and even goes below 8,000 for the first time since November.  Seems like strong downward pressure to my layman’s eye.

Then magically around 12:30 pm an uptick develops.  I know we’ve had a bunch of losing sessions so something had to turn at some point, but I don’t believe it.  Not this fast or this strong.

The story was that the senate was going to vote on an additional release of $350,000,000,000.  This is old news.  If the market is so forward looking it already should have adjusted for the rest of the TARP $.   That there is additional taxpayer money in the trough for the slopping isn’t a surprise to anybody.   Maybe my tinfoil hat is too tight, but it seems like the work of little green men or the President’s Working Group. Not sure which though.  I’m no expert, but this seems like manipulation to me.

What new information came out between the market open and 12:30 that caused a 250 point uptick?  I for the life of me can’t figure out what would cause a 250 point positive swing in the course of three hours.  Nothing.   If the church up the road ran a bingo like this they would be shut down.  Government manipulation of the markets.

What happened mid-session to cause this huge change in momentum?  Tell me if you know.

Don’t be fooled.  As near as I can tell the trend is down for the short and medium term.  Long term?  I don’t know where we end up.  I wouldn’t be surprised if eventually something has to give with our currency.  I don’t know what’s right for you, but I don’t have any money in stocks that I don’t consider gambling money.  The news is all bad: earnings, consumer confidence, housing values, foreclosures, loan defaults, unemployment, retail, the federal budget deficit, the economic health of the states, our manufacturing base, the quagmires overseas, the money supply, the jobs outlook, availability of credit, GDP.  Make no mistake we have a ways to go still before we turn the corner on this one.

And why is taxpayer money being used to pump up the stock price of banks?  Why are public funds being used to bail out stock holders?

I still haven’t received a satisfactory answer.

SCREW THE BANKS! Not a one ever cut me the least slack.

q3This is halfway down one trail looking up.  You can see my tracks.  Yum.  Conditions have been so perfect.  Four inches of ice covered by three inches of dry powder like they see in Steamboat.   In Steamboat they call it champagne powder.  Here we we just thank our lucky star and take advantage of it

q12This is the other half down.  Trust me it’s steeper than it looks.  Sometimes you have to put your hands and poles into the boxing guard position to protect your face and kinda crunch through the smaller branches.

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4 Responses to “I didn’t plan this….”

  1. Dean Says:

    My .02 cent’s worth.. What’s with the gold and silver price’s? With the market crash over the last 3-6 month’s,it should be wild! It was higher before all this stuff happened..something is strange here.

  2. Abraham Says:

    The intangible (paper) gold and silver have uncoupled from the physical. There are two different prices now. With silver the $10.50 for the paper and the $20.00 for the physical.

  3. Sean Says:

    The cronies at the top are simply looting the treasury as all cronies have since the first government failed. This is nothing new. Alas, no one seems too bothered since they are “narcotized” (Jim Kunstler’s word) by our non-stop infotainment society.

  4. Mike Says:

    I paid a student loan payment late this past week. Their computer systems haven’t caught up to the fact that I paid, and I have received three calls since then from Citibank. You would think getting tens of billions handed to them no-strings-attached to make up for their own failings might make them a little more patient with their ‘customers’ (Being tricked into high interest loans as a dumb kid does make me a customer, it makes me a mark.)

    Loan sharks are more reasonable and understanding than the banking industry.

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