Watching yesterday’s manufactured action fully exposes just what a joke this market is. Let’s take a peek at yesterday’s “trading”:

Nov.22, 2008 in Market Outlook

1. Another in a string of hundreds of last hour “rallies” eliminates 50% of an entire weeks losses in one hour.
2. If you go back and look at daily charts, it’s even more remarkable how many of these miraculous, last hour “rallies” occur on Friday’s.
3. They waited all week to flood the market, and manufacture a “rally” so options expired worthless. More redistribution of wealth.
4. “Short covering rally”? LOL - Sorry, I must plead ignorance. In my 30 years in the market, I never realized there was an SEC regulation that only allowed short covering in the last hour of trade.
5. The market remarkably closed just above 8K. What a coincidence. Of course it couldn’t close at 7950, 7980, or some other level. There was JUST enough “buying” to close the market above 8K. A complete joke in and of itself. They’ll hand place the market at any level they please.

Clearly demonstrates that this market has become nothing but a highly rigged mechanism, enabling the legal theft of money from American citizens, plain and simple.

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