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Old 04-03-2006, 01:12 PM
rockrock rockrock is offline
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Join Date: Jun 2005
Posts: 189
Default Plunge Protection Team?

Stock Market's DaVinci Code

[ QUOTE ]
It sounds like a crazy conspiracy theory for sure, but it is one that has currency and won't go away. The conspiracy goes like this: There is a group of federal government officials — the Treasury secretary, the Fed chairman — plus senior NYSE officials who make up, the Plunge Protection Team. It is said they intervene to put a floor under stocks whenever they are at risk of penetrating important levels of technical support, such as when the 50-day moving average slips under the 200-day moving average. Technicians call this the Death Cross, because, when that happens, it can trigger a larger, steeper rout caused by ask-no-questions programmed selling, which can lead to outright panic selling.

[/ QUOTE ]

Any traders here seen evidence of this??
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