Posted on 05/25/2010 12:50:20 PM PDT by frogjerk
NEW YORK (Reuters) - Stocks sharply cut losses on Tuesday as shares of basic materials and retail-related companies advanced.
The Dow Jones industrial average (DJI:^DJI - News) dropped 112.53 points, or 1.12 percent, to 9,954.04. The Standard & Poor's 500 Index (^SPX - News) fell 9.46 points, or 0.88 percent, to 1,064.19. The Nasdaq Composite Index (Nasdaq:^IXIC - News) lost 22.70 points, or 1.03 percent, to 2,190.85.
Indexes opened down nearly 3 percent.
(Excerpt) Read more at finance.yahoo.com ...
Remember back in the good old days when market manipulation was a crime!
This has happened several times. I think it is being manipulated and I believe Soros may be involved.
Working overtime, aren't they?
Trade volume would be interesting information.
1.32 Billion shares on the NYSE.
http://finance.yahoo.com/echarts?s=^GSPC+Interactive#chart1:symbol=^gspc;range=1d;indicator=volume+rsi%282%29+stochasticslow%2812,8%29;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
If this chart for the S&P 500 is close to correct, pretty much all of today's volume came int he first 1 hour trading when the index was off around 2-2.5%.
Wouldn't be hard to pump up the prices on zero volume.
Your Stinkulus dollars at work, yet again.
How long are we going to play this game before the government runs out of cash and can no longer artificially prop up the stock market? Oh, wait... They are already out of cash, yet they keep spending it...
Cheers
Watching it all day, it was so painfully obvious the PPT was working toward getting to market back above 10K.
Wow, hits a 9 month low. Now we are back to November of 2009.
Still has another 3k to go before it tests Obama’s lows at 6.5k. This has been a brutal month.
Just remember, it's only fiat money.
Now I see for the S&P 500, volume today was around 4.3 billion shares vs. 5.2 billion on Monday and 5.4 billion on last Friday. So lower volume today but I guess we can’t say no volume.
Still, it did seem like the PPT was out doing its assigned duty.
I’m in USD right now, so this doesn’t really hurt me. I’m just waiting for the USD to continue to appreciate against the CDN and then I’ll switch back again.
Even if the DOW is 10,000, adjusted for inflation, it would need to be more like 15,000, to make a new high.
The number of non-people just keeps growing to keep the unemployment number this side of 10%. The stark reality of the true number is more like 22 %.
What a joke, I'd laugh, but it's too sad. Maybe I'll adopt a sad-clown persona for 2011?
<;>)) wheeee!
How does one know the DOW will head above 10,000 before trading is done?
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