Salar posted on September 30, 2008 22:20
Very bad day on Wall Street. The $700b bailout bill collapsed in the House, and the markets are reacting with near panic. This is a very bad situation, very bad.
I am just a small investor that has a reasonable size mortgage, Yesterday I noticed something that no one else seems to have picked up. I really didn’t predict today’s carnage, but I’m not surprised at all to see the Nasdaq falling -9.14%, the S&P 500 Index down -8.81% and the venerable Dow Jones down -777.68 points.
US dollar shock financial crisis - Almost every single metric known to technical analysts hit the redline. It is still too early to come to a definitive conclusion and I’m still looking at a lot of information but here are some quick facts:
During the day, volume flowing into declining stocks as opposed to advancing stocks on the Nasdaq hit an astonishing 80:1 ratio.
The VIX volatility index reached a high of 48.40% (and closed at 46.72%) to put that in perspective, that is higher than what we saw from this indicator in 1998 (45.74%)during another financial crisis.
However, I think something very strange is going on in stock market.
Yesterday I was watching the last few moments of Dow. The problem is that when it finished at sharp 4.0 pm, it was around 585, yet after close it kept going down. The explanation was that it is the volume of sales that was not reflected in the final figure.
However, I am wondering that may be someone is manipulating the figures. Can you see any relationship between $700 billion USD and DOW finishing at 777.7????????
This is very fishy. It cannot be a coincidence. May be someone is able to even manipulate these numbers. I have a feeling that someone was sitting there and letting it go down and was hoping to stop it at exactly 777.77
I think he/ she hit it too early at 777.68?
Questions:-
Is someone able to manipulate these numbers
How?
Why?
If so - Can we trust anything they say?
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The strange thing is that today on opening, it just jumped straight up by about 200 points. So - what can I say?? it seems that the true level yesterday was -580 and everything that went on between 4.00 pm – 4.15 which was a further drop of 200 points, was indeed fictitious and made to frighten the average man in main street.