Plunge Protection Team in action...

[rj1]

...or was the market just loopy?

The Dow Jones Industrial Average today:

Open at 9:00
9:30 - down 82.5
10:30 - down 171.6
11:00 - down 128.9 (up 42.7 from half-hour earlier)
12:30 - down 227.6
1:00 - down 280.9
2:00 - down 168.9 (up 112 from hour earlier)
3:30 - down 241.3
4:00 - down 15.7 (up 225.6 from half-hour earlier)

???

[Rajiv]

Re: Plunge Protection Team in action...

A more likely explanation is the selling of index futures by naive investors

[friendly_jacek]

Re: Plunge Protection Team in action...

A more likely explanation is the selling of index futures by naive investors

Ditto, panic selling into oversold market. Short term that is.