Will tomorrow be the day the Plunge Protection Team loses control of the Dow?

Yahoo Finance ^ | August 25, 2010 | DJIA

[E. Pluribus Unum]

They just barely managed to pump it up over 10,000 today.

10,000 is the psychological tipping point.

[ilovesarah2012]

I watched it off and on today. We knew they would keep it above 10000. Let’s see how long they can do that.

[roses of sharon]

Sure would be nice if we had some REAL financial reporters in NY to actually watch out for the interests of American citizens.

[Yo-Yo]

The Dow finished up for the day and you're whining?

[Please read the tagline...]

[tbw2]

Is there really a Plunge Protection Team?

[KoRn]

I know little to nothing about the markets, but I think if it goes below 10K, it will plunge initially, and continue to grind downward, looking for a bottom.

This is a toilet bowl shaped “recovery”. lol

[sourcery]

As a market analyst/trader, here’s my prediction: It falls below 10k tomorrow or Friday. Then rises back above. Then falls below 10k again in September. After that, it probably won’t be back above 10k until early 2011, at the earliest. Of course, it could spend many years below 10k. We’ll see.

[E. Pluribus Unum]

Is there really a Plunge Protection Team?

The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631,[1] signed on March 18, 1988 by United States President Ronald Reagan.

[Sequoyah101]

And of course you mean no recovery at all.

The Depression was a general lack of confidence wasn’t it? Isn’t that what we have now? Don’t we just see the response to a president who keeps beating down the system, creating instability and adding more and more threats to investment?

[E. Pluribus Unum]

As a market analyst/trader, here’s my prediction: It falls below 10k tomorrow or Friday. Then rises back above. Then falls below 10k again in September. After that, it probably won’t be back above 10k until early 2011, at the earliest. Of course, it could spend many years below 10k. We’ll see.

Time to sell short?

[highlander_UW]

As a market analyst/trader, here’s my prediction: It falls below 10k tomorrow or Friday.

Perhaps you can answer a question I've wondered about. Like the OP I've noticed that it looks like someone has been trying to manipulate the market to get it above 10k and keep it there. When it was below there wasn't sufficient good news to drive buyers to the market, at least not that I saw. If that is correct, what mechanism are they using to prop it up? Obviously Soros has enough money to play the market that way, but he seems to high profile and he doesn't strike me as the type to risk his money that way just to make Obama look good.

[rushmom]

Where does one put retirement money?

[Huck]

10,000 isn’t any tipping point to me. Just a couple of years ago it closed around 7500 or so. It’s gone below 10000 since then. Big deal.

As for PPT, I think that’s BS too. The pros are making money off of volatility these days. They like big drops. They hype the downside, people freak and sell, the pros buy. Things calm down, people buy back in, the pros start hyping the negative again,and it repeats. It’s the only way for them to make money in this sort of economy.

[dartuser]

Jobs report tomorrow at 8:30 ... all bets off.

[The Comedian]

Is there really a Plunge Protection Team?

There used to be.

Now it's just operating out in the open with left-over TARP funds as "Goldman Sachs and friends".

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[SVTCobra03]

My prediction is that when the GOP takes the House in November the DOW will go above 11,000 by next spring. Of course, I think I will win the lottery too.

[OB1kNOb]

That’s an interesting chart you posted. The volume at the end of each of the last five days indicates the PPT have been busy little beavers lately.

[E. Pluribus Unum]

The volume at the end of each of the last five days indicates the PPT have been busy little beavers lately.

Sort of a smoking gun, isn't it?

[sourcery]

Only if you know what you're doing. There's no way I can give you a good answer without knowing the size of your trading/investment account, the amount of risk you're comfortable with taking, your knowledge of and willingness to follow professional risk and money management practices, and your ability to recognize that a trade isn't working and should be closed out before the loss gets too big.

Book recommendation: Trading In The Zone

[EBH]

Mattress?

Seriously though....

I contemplated it back in 2008 when I started to Go Galt.

Some went into the house.

Some went in to the house.

The rest is invested in me, my work, my productivity.