No registration required! (Why?)

Over bought 1133?

{NEW YORK (MarketWatch) -- The unusual circumstances that led the U.S. market to rally powerfully in 2009 might be explained by secret government moves to buy stocks, according to Charles Biderman, the founder and chief executive of TrimTabs, a research firm that tracks liquidity flows in the market.

"We cannot identify the source of the new money that pushed stock prices up so far so fast," Biderman said in a statement.

The source of approximately $600 billion net new cash necessary to lift the market's overall capitalization by $6 trillion last year could not be identified by TrimTabs, Biderman said. The money, he said, didn't come from traditional players such as companies, retail investors, foreign investors, hedge funds or pension funds.}

The remaining of the article and also the bulk of the article, is given to quotes of analysts calling this a "conspiracy theory". I find it noteworthy how the main thrust of the article is really to discredit Biderman's statement instead of asking for substantiation of his statement or numerical evidence to refute it. Certainly these actions (of gov't buying) would be in keeping with Executive Order 12631 and with "enhancing the integrity, efficiency, orderliness, and competitiveness of [United States] financial markets and maintaining investor confidence".

For those who remember Black Monday, the emotional climate in investor psyche that followed it and the gov't and regulatory action (e.g. circuit breakers), this would not be out-of-keeping with gov't thinking and modus operandi.
The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631,[1] signed on March 18, 1988 by United States President Ronald Reagan.

The Group was established explicitly in response to events in the financial markets surrounding October 19, 1987 ("Black Monday") to give recommendations for legislative and private sector solutions for "enhancing the integrity, efficiency, orderliness, and competitiveness of [United States] financial markets and maintaining investor confidence".[1]

As established by Executive Order 12631, the Working Group consists of:

* The Secretary of the Treasury, or his designee (as Chairman of the Working Group);
* The Chairman of the Board of Governors of the Federal Reserve System, or his designee;
* The Chairman of the Securities and Exchange Commission, or his designee; and
* The Chairman of the Commodity Futures Trading Commission, or his designee.

Former Federal Reserve Board member Robert Heller, in the Wall Street Journal, opined that "Instead of flooding the entire economy with liquidity, and thereby increasing the danger of inflation, the Fed could support the stock market directly by buying market averages in the futures market, thereby stabilizing the market as a whole."
Yeah, there have been many rumours and theories surrounding the existence of the plunge protection team. I know that the PPT is not suppose to be real, but when ES runs up +40pts in less than one hour, it does make me wonder who is behind all that

Click image for original size
PPT in the last hour