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David Fry
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David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
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  • GREEK RUMOR LAUNCHES BUY PROGRAMS 1 comment
    Feb 14, 2012 7:34 PM | about stocks: SPY, IWM, QQQ, AAPL, XLK, YHOO, FDN, XLB, XBI, BAC, KRE, XLF, XRT, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, USO, UGA, XLE, DJP, DBA, EFA, EEM, EWG, ILF, RSX, EPI, GXC
    openingimage

    Retail Sales were up but worse than expected (.4% vs .7% expected and .0% previous); Business Inventories (.4% vs .5% expected and .3% previous); Goldman Same Store Sales (-2% vs 1.8% previous) and, for what it's worth NFIB (National Federation of Independent Business Optimism Index) was reported (93.9 vs 95 expected and 93.8 previous). Investors found eurozone issues and economic data wanting and sold stocks Tuesday.

    With the market sharply lower suddenly HFT driven buy programs were unleashed at 3:30 PM. A Reuters report stated that Antonis Samaras is "expected" to deliver a letter of commitment to the country's international lenders on Wednesday. It doesn't take much when volume is light to manipulate prices. And, no, you can't make this stuff up! Ahem, so stocks closed slightly higher on the day making up large losses in the last 30 minutes.

    READ MORE

    Stocks: SPY, IWM, QQQ, AAPL, XLK, YHOO, FDN, XLB, XBI, BAC, KRE, XLF, XRT, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, USO, UGA, XLE, DJP, DBA, EFA, EEM, EWG, ILF, RSX, EPI, GXC
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  • untrusting investor
    , contributor
    Comments (9933) | Send Message
     
    That late day buy program express, with straight up moves, is really something to behold. By our count, such action has happened on 20-25% of all trading days since Mar/09. Somebody has trillions and trillions of dollars to through at these late day spikes. Who has mutli-trillions to make these moves?
    14 Feb 2012, 08:19 PM Reply Like
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