Posted by: stockscooter | June 29, 2012

Why People Distrust Wall Street

Today is a prime example why investors are bearish, and why they can’t trust their money to Wall Street.  The “powers-that-be” can manipulate these markets at their will.  Yesterday, they gapped the market down 100 points on the Dow Industrials.  Today, they gapped it up 150.  Why?  The real answer is because they can.  The next reason is because this is the end of a week AND the end of a month AND the end of the quarter.  Typical window-dressing the last day of the quarter.  Typical election year support, as well.  They’ll probably do it again next quarter, too. I certainly would expect it.  And, don’t expect this to come back down later today.  It’s here or higher to close the day, would be my educated guess.  As long as they don’t make this a 500 or 750 point positive day, my weekly models still have negativity to them going forward.  I’ll update the weekly and monthly charts after this week is over, because who knows where this day will end.

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