Intervention Fails

[PileDriver]

note how the two blatant intervention jam jobs (circled on chart) failed within minutes. The market continued in its existing trend.

 

Jams don't work. Debate over.

[Jorma]

rog mentioned on IDS Friday that a big Hedgehog instituted a buy program and his take was they hoped to cause a run up to unload some bad positions. Who knows?

 

I'm almost convinced that the Fed, and or, the Treasury, does operate sometimes in the futures pits but the smoking gun never seems to appear. As time passes one would think someone would talk. I'll say they probably do but guess it is far less often than imagined. A little jam here and there can go a long way by creating the expectation of melt ups.

 

If a couple jamed failed recently that means a suspicious mind would conclude that it is about time for Al to get back into the saddle. Now in fact would be the perfect time.

 

I was heavily in short funds (unfortunately and stupidly my only vehicle currently) for three weeks but bailed the last two Fridays, for a plus. I could not bear (pun intended) to be jammed at year end. This is the peerfect time for a jam job and if they can't pull it off now I'd be shocked. In other words I am acting like I think the market is highly manipulated. I guess it is excatly how and when which is the subject of debate. Remember, this sucker is down hard now, for three straight years. Not exactly a record of success.

[Takachi]

Remember that the media wants it jammed to keep themselves employed. The sheep want it jammed because all they really want is their 401k money back, and the good times to return. Who doesn't want it jammed....... only the evil shorters?

 

The despicable lack of a general knowledge of economics and how capitalism works is at the root. Ask your neigbor if he thinks it would be a good thing if 30% of the dram makers went bankrupt? Betcha he thinks that would be horrible! So when Korea gives Hynix a couple more billion again to stagger on unprofitably, thats a good thing because it reduces pricing power and his Dell stays cheap.

 

Al is a hero for breaking the slide in the 87 crash by buying futures, right.! Thats the start of his hero worship. The public applauds this stuff. It doesn't work and will kill the market for the next 20 years, but they don't understand that because they know nothing except the economics they hear on crapvision. Letting the weak die so the strong can grow and be profitable is not politically correct and unacceptable public policy.