Are futures or SPDRS used to manipulate?
I am a usually a skeptic when it comes to conspiracy theories. But less a skeptic than I was before the fall of ‘08.
So I did not rush to judgment when told by a knowledgeable friend in the summer of ‘09 that our beloved gov’t through either the Fed or JP Morgan manipulated the equity markets and commodity prices by using the futures and options markets. But neither have I been ignoring the possibility.
On Friday the 5th of February just before the close, JP Morgan hit the ask on all 55 SPY sell offers on the IOIA screen (it is in my notebook, but I can’t find the link). The DJI closed minutes later at 10,012.
Then, as we approached 10,000 again last Friday, comes this.