A lack luster day until the last 30 minutes or so. Narrow trading on light volume. Bulls manage to push markets high up to the sky…or at least up to the 200 day. Sellers hit bids in the last 2 minutes into the close.
There is a rumor floating around that Japan or the G20 countries will float a $600 billion loan to the IMF for the Euro Crisis. IMF denies the rumor.
DOW UP 48
NASDAQ UNCH
S&P UP 2.61
OIL DOWN $0.77
GOLD UP $13.70
USD/EUR UP .10% @ 1.34
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Actually, it was Detroit that was going to float the loan but they couldn’t find a fax machine as it was repo’d last week.
hahaha TraderCaddy,
no white knights for Europe to date.
http://www.zerohedge.com/news/and-here-todays-completely-idiotic-rumor
rumors already proven false…
but it was enough for another step towards the pump and dump.
this is calculated market manipulation.
the whole rally last week and today’s plus were all caused by rumors.
once even a shred of proof reaches these high-on-crack fools, the market will tank.
hard.
yep,the last 20 minutes were bullshit.
No loan to Europe will make a difference long term, ONLY fundamental changes to the monetary system can create a workable system.
And PS: Loyd says were going to sell off again and fail here at the 200