Well not really, but it was one year ago today that manipulation got taken to a whole new level.
Before the Oil traders got the rug pulled out from under them….
Before the dollar began an uptrend….
When Lehman Brothers was still more than $20…..
This happened to the KOL ETF:
Fourth of July week is typically very low-volume, so if you’re going to manipulate something, that’s the time to do it if you think you can get away with it. Was there any reason that on July 2, 2008 KOL had it’s highest volume day ever? (9x average volume to that point).
Um, to answer that question in one word….No.
At the time, I scoured the internet for news, and there was a report that coal prices had pulled back in England, but talk about disproportionate responses…..
Looking back, this was the moment that I should have clearly understood that US equity investing is no different than playing three-card monte.