The markets are hovering around the flat line today, looking like a lost lamb, unsure of where to go. This is coming on the back of a late day mega squeeze yesterday. A report surfaced from a UK news outlet that a 2 trillion Euro bailout fund agreement had been reached between France and Germany. After the markets ripped higher, the report was proven to be false. While false, the markets held a majority of their gains. These 3pm ET news breaks have become common place in this manipulated, light volume market. All eyes are turning towards 3pm ET again today. What will be the false rumor today, tomorrow, next week?
If the market has to resort to Federal Reserve POMO and false news releases to see gains, one must wonder what the long term holds.
Gareth Soloway
InTheMoneystocks.com
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