Tuesday, March 4, 2008

Invisible Hand Strikes Back

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I don't know which headline to go with

Invisible Hand Wars
The Invisible Hand Strikes Back
Return of the Invisible Hand

All I know is whenever the market looks ready to fall off a cliff, we have massive futures buying to help shore things up... and make everyone feel good. I am sure it was just a coincidence it always happens after 3 pm when the market is in danger, or in premarket when trading is very light. Could it be these guys ... again? Nah.... free markets and everything.

But like clockwork if its not Charlie Gasparino providing us with a 3:30 PM bond insurer "update" on a Friday, it's a massive futures buy order after 3 PM... and this is why the move down is such a long grind, instead of a swoosh. "They" won't allow an orderly natural decline. And so it goes. Maybe we can rally back to 1360 and provide appearances that is all is well again ;)

I'm going to fight the Invisible Hand (even though it is hard to fight something you cannot see) and remain consistent with my positioning... because I believe 10,000 hedge fund computers will eventually overcome the Plunge Protection Team. It's like the epic battle of Kool Aid vs facts. So they can slow down the selling, but eventually we will get where we need to go. I wonder if we'll magically close above 1320 - would be a complete shocker. hah. ;) Always there in times of need, like an old blanket. Thanks PPT!

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