THE DOT - if this turns orange or red be alert

Thursday, July 8, 2010

Brainstorming Wednesday - I am on vacation currently hence the blog writing will be less than usual

1. After 10 downdays we had 2 updays produced by PPT together with some pathetic propaganda research - Byron Wien's denial is rather ignorance or more likely as an ex top MS man he is part of the cabal anyway - anyone who has watched the tape the last 3 years with an IQ above 80 could clearly see the pathetic work of PPT - which was run for most of last years by Goldman's as they ran the market division of the NY FED.

excerpt

CNBC Guest Says Absent Plunge Protection Team Stepping In, Market Would Fall; Wien, Kernan Disgusted


A highly amusing exchange occurred earlier on CNBC when guest Damon Vickers of Nine Points Capital had an unexpected moment of truthiness and turned some heads when he said that "unless the plunge protection team comes in over the next couple of days, the markets are looking very dicey here." When a disgusted Joe Kernan asks if Vickers was making a joke about the PPT, the response is "absolutely not - it's common knowledge that the government steps in and does things to step on the gas and buy stock here and there." To which Byron Wien has a strong retort: "I don't believe it." All that and much more in the clip below. In the meantime, the market is sure having a field day with stocks as once again bad news are discarded and the smallest glimmer of positivity serves as a springboard for yet another ramping short covering spree.

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