U.S Stocks had a miraculous several hundred point surge minutes before the close, even after the Federal reserve issued their dismal outlook for the U.S Economy.
While Jim Cramer and a host of other talking heads on CNBC were complaining about high frequency traders manipulating the market yesterday to make it crash, I have not seen one single person mention how the market was manipulated today to make all of the major stock indexes jump, up to several hundreds of points, and all within the last few minutes of trading.
I did however see the talking heads laughing and smiling about how they are placing massive bets against the public because everyone from their taxi drivers and their shoe shine boys now have thrown everything they own into gold. That may be a hint it is time for you to get out of gold and silver while your ahead. Just a thought.
Before I go into how we go into what happened today, here is your daily market summary.
Stock Market Summary For August, 09 2011
Even Market Watch reported:
Market Watch Issues Alert On Stock Market Crash Following Fed’s Economic Outlook Report
Miraculously, even in the face of the horrible news from the Fed Wall Street shot up over 300 points in the final minutes of trading.
Wall Street shot up over 300 points in the final minutes of trading
The miracle was then augmented with the DOW closing up 429 points.
DOW miracle augmented, closing up 429 points
The fundamentals where not there and neither were the technicals so how did this happened?,
I am not the only one that is suspicious either. Mike Rivero wrote:
REASONS TO SUSPECT PPT RIGGING OF TODAY’S MARKET
The stick graph at the very bottom shows trading volume during the day, which starts high shoving the stock market up, then as the market hits a plateau the volume drops off! Right at the Fed Announcement volume picks up briefly as the sell orders hit, then note that volume jumps back up again just ahead of the second rise in the market prices! These new buy orders, almost matching the volume the day started with, are driving the DOW increase. The stock market is being rigged using supply-demand market forces, rather than earnings and dividends. “Someone” with access to unlimited financial resources is gaming the system.
He also followed up with the following YouTube videos document stock market manipulation.
Wall St. Goldman Sachs rigged markets
JP Morgan Ordered to Pay $35M in Bid-Rigging Case
Market crash chart – 2010 sep 01 – Rigging? What rigging?
U.S. STOCK MARKET A GIGANTIC ‘RIG JOB’
The Stock Market is Rigged ~ The Proof Jan. 17th 2011
Dylan Ratigan Show: Is the stock market rigged?
Losing gamble to rigged market capitalism
The Story of Your Enslavement