Can't you just picture Alan Greenspan as Gepeto?
It's interesting that he referenced that issue (government intervention in the equity markets). In my "Calvary" post, I had also made reference to my "Heartless mother" post, with both posts implying the stock market, post Katrina, was also being guided (manipulated, rorted, squeezed, whatever) by Big Money. You can get real paranoid in this trade. But even paranoid people can have legitimate fears. Like the tombstone that said "I told you so."
I think Barry might be of two minds about this market right now. He suggests we have a short term upside "This does not affect our expectations for the rest to grind higher through November, and then . . ." http://bigpicture.typepad.com/comments/2005/09/chart_of_the_we_1.html
At the same time he has lots of concerns about the fundamentals (for lack of a better term) of the economy and market, e.g., http://bigpicture.typepad.com/comments/2005/09/sometimes_there.html and http://bigpicture.typepad.com/comments/2005/09/delayed_onset_s.html . I posted the comment, on his "Delayed onset" post, to the effect that "guiding hands" are acting to prevent the market from reacting to the negative elements, which is where this post came in and where we now exit.
Labels: Market manipulation