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That we have a "plunge protection team" (and conversely NO "bubble protection" one) indicates just how goosed, artificial, and manipulated it is in the first place. I guess some peoples idea of a "free market" is an imposed floor limit on a down day but skies the limit on an up one.
That it went down almost a thousand points to almost break even in the span of an hour shows just what a crock it is.
My only disappointment (as of this writing) is that it hasn't fallen THREE thousand. And stayed there.
Plunge protection exists to protect the rich, and the institutions, not the individual investor. The stock market is no longer ruled by the laws of supply and demand. It is controlled by GS supercomputers which make it simply a casino with GS as the house.
One thing is certain, when it goes down, IT GOES DOWN !!
It might inch up everyday to a cumulative 1000 pts in 2 months, but it takes 30 minutes to wipe it out.... !!
I heard on another board that it was just a trader who fat-fingered (m)illions instead of (b)illions.
Oh and the greece riots.
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