SPDR S&P 500 (SPY)

[Two-timer]

"SPY 106.30 has to hold?" Why? You don't get it, Fox. Da Boyz will take care of things in their own time/way (lol). Today's action explained by ZeroHedge below. Two

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Quarter End Markup Begins in Earnst
Submitted by RobotTrader on 09/28/2009 14:08 -0500

Very predictable to see the "DaBoyz" use the light volume session today to mark everything up for Quarter End, re-substantiate Bernanke, Geithner, LLP as the leader of the "G-String" (aka G20) oligarchy, and blow up some GridBot and Forex Megadroid players at the same time.

Anyone see the Forex action last night? Wild, unpredictable moves everywhere, like watching all the 300:1 leveraged FX gamers trying to hold on to a giant piece of vibrating sheet metal.

And the stock futures were weak with Asian trading, but "The Team" showed up at 5:00am with the obligatory Spoos Buying Spree, and as soon as the market opened, various financial stocks went vertical, like Hartford:

And the XLF, RKH, KRE, etc. were all jimmied up, since their survival is of critical importance to the survival of the quadrillion in derivatives bets being housed inside the JPM, BAC, and C towers.

And, of course, you had the normal and usual jam jobs in the junkers, like the mortgage insurers, as many are attempting to "make their year" in the last two days of trading.

And don't forget the bonds, which were also skied along with stocks, as another few billion of new debt to be floated will be coming up later this week.

Remember, the slightest hint of stock weakness, dollar strength, etc. will turn the wildebeest herd back into bonds to drive yields down even further to entice more people to buy a new "McBox" with a freshly printed 4.95% mortgage to be gobbled up on the Fed's balance sheet.



Its all part of the choreographed, seamlessly executed "Wash, Rinse, Repeat" cycle to grease the Perpetual Motion Machine...