Hey, it's like late summer / early fall 2009 - when almost every day we'd rally 1% in the closing minutes. The post 3:30 PM special - haven't seen that one in ages. Ah, good memories... nice to see the market can still rally 1.2% in 12 minutes. Completely rational to see the market makes a series of 4 intraday lower highs, followed by a 180 degree vertical move up - mmmm Kool Aid. Just like they taught us in our technical analysis books.
Looking forward to this week's Sunday night special. Who wants odds they mark up the S&P to 1094 Monday morning in premarket? ;)
I'm not the only one laughing at it all...
Daniel Dicker And that's the way it works now... 5/21/2010 3:57 PM EDT
... from unchanged and looking horrible to BUY EVERYTHING ON THE CLOSE!!!
I've traded oil for 25 years. I'm used to volatility. But holy smokes, how can we sell this PRODUCT of INVESTMENTS to common people with nonsense like this?
I'm with Jim, the mechanism needs fixing -- I've said that for two years now...
Jim Cramer NOT VOLATILITY 5/21/2010 3:56 PM EDT
This is not volatility -- it is phoniness. The markets aren't working and the liquidity has been sucked out. This last half hour was a travesty.