A very detailed gathering of quotes and articles at maketskeptics making the case that the government steps in to manipulate the stock market when it wants to. I find that type of stuff interesting but useless. I think it is inconceivable to assume the market is not manipulated by the government considering the fact they are openly trying to manipulate a much bigger market, interest rates. So I assume it occurs and work within those assumptions. For those who are interested, it is a good read.
"He begins most workdays at 5 a.m. by checking the status of overseas markets… and ends them 11 p.m. the same way. In between, Mr. Fisher SWAPS [Crudele's emphasis] intelligence and rumors with traders and dealers from his office in the Fed's 10th-floor executive suite that overlooks the trading floor he runs," the piece continues.
As I pointed out in a previous column, the market has done some strange things in the wee hours of the morning, especially between 5 a.m. and 7 a.m., which ultimately affect how equities do in the New York market.
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