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Ok, so Dow and SnP Futures were down most of the night. Market opens down, and now suddenly it's up a little after a second day of selloffs overseas. I'm no expert or anything, but without any other info, that seems to me like a concerted effort on the part of market makers and other big time players to prop things up. How long can that last? Any comments? Educate me.

LOL, and by the time I hit "submit", DJIA's back in the red by 38! Looks like another fun day. Wish I'd held off on my silver purchase yesterday!

rexmerdinus wrote:Ok, so Dow and SnP Futures were down most of the night. Market opens down, and now suddenly it's up a little after a second day of selloffs overseas. I'm no expert or anything, but without any other info, that seems to me like a concerted effort on the part of market makers and other big time players to prop things up. How long can that last? Any comments? Educate me.

it might be that they have invoked "rule 48", google that, basically its an emergency rule that says market markers dont have to open certain issues that are in turmoil, so the tape might be off. They've been making noise about invoking rule 48 for a few days here, which is ill advised, coz when big players cant do price discovery, watch out. the stock to watch is BAC.

they invoked Rule 48 yesterday. Google Rule 48, but click on "News" in the upper left of the page, for a search of the news.

IdahoCopper wrote:they invoked Rule 48 yesterday. Google Rule 48, but click on "News" in the upper left of the page, for a search of the news.

there ya go then...now most of the guys flinging blocks of shares around know this, and if they cant get out, and we do a last hour sell off...ON A FRIDAY, and get some nasty news over the weekend, watch out. ...and silver wont be going up either.

ps...i feel like i did yesterday, turn off the computer, take some knock out drops and sleep the day away.

neilgin1 wrote:ps...i feel like i did yesterday, turn off the computer, take some knock out drops and sleep the day away.

I'll be doing that anyway, since I'm working midnight shift

rexmerdinus wrote:

neilgin1 wrote:ps...i feel like i did yesterday, turn off the computer, take some knock out drops and sleep the day away.

I'll be doing that anyway, since I'm working midnight shift

sleep tight Rex...ya ever watch "Das Boot"?....German film about a U Boat crew, they're just getting POUNDED, and the journalist visitor, just cant take it, crawls into his rack and passes out...expecting to die, walks up and the crew has handled the onslaught and is now off general quarters........reminds me of that. .....that IS a great film, btw, get the FULL directors cut, first time i ever liked German's and the Captain is a pure role model of naval bearing:

http://www.youtube.com/watch?v=TtUw_JnmYQ0

Rule 48 has been a fixture on the scene for at least the last 60 days, getting invoked at least 10% of the trading days, it not a bit more.

I smell a faux rally today. After all, the Plunge Protection Team was re-funded during the last "gov't shutdown" scare.

We sure got to the next one fast....lol.

It's indicative of the chaos in the world that PM guys are giving two hoots about the non metals markets....

JJM wrote: It's indicative of the chaos in the world that PM guys are giving two hoots about the non metals markets....

Well, it's generally "hoot, howl, and LMAO". Does that count?

I did decide to buy shares of SIVR today with covered calls OF COURSE.

The "down" for silver seems a lot closer than the "up". That's my whole formula

barrytrot wrote:I did decide to buy shares of SIVR today with covered calls OF COURSE.

The "down" for silver seems a lot closer than the "up". That's my whole formula

havent seen you around in a spell Barry.