Every day the “same” structure (part 2)
Don’t be afraid … I won’t have this as a daily column from now on 
On the other hand … it could make sense …
Especially as all of Wall St. fights to survive the June Expiration and the Q2/H1 end …
Today … they created first a bullish chart set up for Europe … a morning star in the hourly chart …
The trick … open was “too high” … so the first candle looks more scary and creates short positions …
even more as especially the Eurostoxx was pushed to the edge … to create a mini “panic”
Then the push to higher grounds ahead of the daily figures … to create a squeeze and push short positions out of the market …
Then the numbers … all(!!!) of them worse than expected but not as bad as feared … sometimes nicely coincidently rounded …
as the CPI … or made look better as a rumour is spread around of an even worse number as today the Michigan number …
So … US markets open … strong buying for one hour … on top of yesterday’s squeeze …
then the selling back on rumours as a Lehman takeover over the weekend a.o.
And at last … after quite reaching the lows of the day and stabilizing it a bit …
a 10 point squeeze in the last 30 mins.
Funny? Maybe …
Effectful … seemingly yes …
THEY ARE ALL SITTING IN THE SAME BOAT …
Have a nice weekend!
Tags: Lehman, manipulation, PPT
Juni 16th, 2008 at 10:00
OFF TOPIC
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wanna see who contributes the most for oil & commodities?
http://www.bloomberg.com/apps/news?pid=20601109&sid=aboqiSz1AZm4&refer=home
goldman and morgan are it according to the article. the rest will definitely follow.
watch out for $250 oil.
Juni 16th, 2008 at 16:51
So…all of OPEC is complaining about how high the prices are (worried that if Oil stays this high for too much longer, people will find something else to use instead). Every OPEC nation is making a point out of how they are meeting every single drop of oil contract. Saudi Arabia is getting ready to add 1/4 – 1/2 million barrels a day of additional oil to the market. And this has the expected impact on oil of making it go…up?
The #4 (I think) “Investment Bank” posts a $2.8 billion loss. When you’re in the funny money business like these guys are, I can totally understand loosing a few billion here and there. A bit like how my two year old leaves his thomas the train toys behind at times. And as expected their shares along with the majority of the financial sector is…up today? Huh?
I know, they’re down 60% for the year… I mean, I can sorta maybe see how some would think this is a buying opportunity… k, yea that was me be sarcastic too.