After the market saw the death cross technical on the S&P a few days ago…?
July 15th, 2010…did the PPT pump more cash into stocks to defy technicals?
Somebody sold your other answerer a bill of goods and told him T/A was a crystal ball, and now he’s mad. He needs to take some more Hopium and chill.
As a technical analyst, is there any one thing or indicator that you would make a trading decision from and dump a considerable portion of your money into? Neither would a fund worth billions of dollars. The market does however seek volume, and catches the greatest number of people off guard and on the wrong side at the most inopportune times. This is not some conspiracy or death squad or alien force.
The markets move in stairstep fashion, not straight in one direction for weeks at a time. If the PPT existed, the 2008 plunge would not have occurred, or the PPT would have been put out of business by supporting a down market, and they would no longer exist.
Every time the market drops and then "mysteriously" rallies, knowing individuals look at each other and nod, seeing the handiwork of the PPT (plunge protection team). I hope you’re not talking about a Pink Poogle Toy.
Let’s say it straight out. The plunge protection team does not exist. It is an urban myth. Let me step by step prove it does not exist, and see if we can learn something in the process.
http://www.safehaven.com/article/721/the-plunge-protection-team
July 15th, 2010 at 7:22 pm
Most people that have studied "Technical analysis" have learned that much of it is "gestalt" observation that is totally non-predictive, which makes sense when you stop to realize that it MIGHT work if there was never any "news"….
Technical analysis has failed to EVER predict ANYTHING preemptively, rendering it a completely function-less "tool"
References :
July 15th, 2010 at 7:56 pm
Somebody sold your other answerer a bill of goods and told him T/A was a crystal ball, and now he’s mad. He needs to take some more Hopium and chill.
As a technical analyst, is there any one thing or indicator that you would make a trading decision from and dump a considerable portion of your money into? Neither would a fund worth billions of dollars. The market does however seek volume, and catches the greatest number of people off guard and on the wrong side at the most inopportune times. This is not some conspiracy or death squad or alien force.
The markets move in stairstep fashion, not straight in one direction for weeks at a time. If the PPT existed, the 2008 plunge would not have occurred, or the PPT would have been put out of business by supporting a down market, and they would no longer exist.
Every time the market drops and then "mysteriously" rallies, knowing individuals look at each other and nod, seeing the handiwork of the PPT (plunge protection team). I hope you’re not talking about a Pink Poogle Toy.
Let’s say it straight out. The plunge protection team does not exist. It is an urban myth. Let me step by step prove it does not exist, and see if we can learn something in the process.
http://www.safehaven.com/article/721/the-plunge-protection-team
References :
July 15th, 2010 at 8:20 pm
People who believe there is a PPT no doubt will be tempted to ascribe this week’s rally in the face of a "death cross" as market manipulation. But for a more objective look at the predictive value (or lack thereof) of the death cross, please read Mark Hulbert’s column in the following link. He acknowledges that its 114 record has been good, while pointing out that it has been worthless since 1990. It’s up to you to decide if the last 20 years are an anomaly or whether this technical indicator has permanently lost its value.
References :
http://www.marketwatch.com/story/track-record-of-the-death-cross-2010-07-09