Kevin Haggerty - Comments on PPT & Market Mark Up...

Discussion in 'Index Futures' started by EdgeHunter, Jul 28, 2006.

  1. Haggerty is a serious Old School Trader ... who traded for fidelity for years... and trades his own account every day now...

    His comments today on the market, some etf's and the PPT... interesting...

    After 3 big up days, the OIH (+ 12.5%) and XAU (+ 10.4%) finished red with the OIH -0.8% and XAU -2.9%. Aetna (AET | charts | news | PowerRating) imploded (-16.8%) on Q2 earnings shortfall, and that took our focus list healthcare stocks down. The SPX finished -0.4% at 1263.20 just above the 200-day ema while the Dow was flat (-2 points) due mostly to Pfizer (PFE | charts | news | PowerRating) (+2.2%) and Merck (MRK | charts | news | PowerRating) (+2%). The QQQQ was -0.7%, $COMPX -0.8% and $TRAN -1.4%. The transportation index, which is -14.4% from its bull cycle high, is now in primary downtrend territory. It has joined the ranks of the following: QQQQ -17.9%, $COMPX -15.3%, SMH -28.5%, XLI (Industrials) -12.5% and XLY (Consumer Discretionary) -10.6%. The SPX was -8.1% from 1326.90 to 1219.29 and has traded above/below the 200-day ema in a 5% range since 6/6/06.

    NYSE volume was 1.8 billion shares yesterday with the volume ratio of 37 and breadth - 455. I expect the generals will hold the averages into month end, as they have done a good job so far this week with the mark up, and what looks like some help from the PPT during the current Middle East crisis. John Crudelle of the New York Post wrote an excellent piece on Tuesday about the PPT (Plunge Protection Team), and how the Post has filed under the Freedom of Information Act to make public the minutes of any PPT meetings. There have been so many mystery moves out of nowhere, and always at the time the SPX is falling out of bed during some kind of some significant major news. Mr. Bernanke (Fed chief) was pressed to admit by Representative Paul that there is a PPT, but Bernanke danced around the Representative's questions. The admitted intervention in 1987 by the PPT from a former Fed governor, now seems to have become a regular tool, and that would make Enron look like an odd-lot. They should simply stay the hell out of the free market.

    The SPX two month 5% trading range between 1280.38-1219.29 will resolve itself after month end in the first few days of August. Any significant move out of the range to the upside will be another excellent selling opportunity.




    If You Have The Vision We Have The Code
  2. There are two different PPT's. Everybody knows about the Plunge Protection Team. They buy the market on huge dips. The "other" PPT that nobody talks about is the Plunge Promotion Team. They try to break the market down in order to bring about world-wide chaos and huge short-side profits. In reality, they're both the same set of banks and brokerages that want to "contain" the market within a tolerable trading range.
  3. Who decide what's a tolerable trading range ? And could he thinks that is opinion is better than the one of the Market Itself ?

    Set the Market Free...
  4. haggerty knows his stuff. been very impressed with Tradingmarket material overall.
  5. I agree about Haggerty.. but for the rest of the 'team sellers' there... one must be very careful on TradingMarket's website about what is solid and what is just BS...

    TradingMarket's has a lot of BS on their site for sale since they have so many contributors they are selling the stuff for and taking a piece of their action... they are selling stuff which they do not vet properly...
  6. Indeed, most of their stuff is fluff, Hago's work is solid, he is the real deal.
  7. gaj


    haggerty's trading course is one of the few i've seen which is worth the money for virtually anyone who is not a stone-cold beginner, no other conditions attached.

    most are of the "well, they teach you the basics of how to put in stops, etc." but haggerty's is amazingly solid.
  8. Is his site/blog still active ? No longer at TM is he ?
  9. More like an "excellent BUYING opportunity".

    The market went straight up for an entire year after breaking that range.
  10. gaj


    #10     Dec 9, 2009