Why did markets spike yesterday at close, then plummet today on open?

[Socks]

DOW is down over 200 points today, after a huge uptick yesterday at close.

Something tells me the powers that be wanted to artificially inflate May's close?

But for what reason?

[iamtam]

it's called end of month adjustments. larger firms often sell out of postitions at the end of the month and buy into new ones, settling their positions.

[Relentless]

It happened because the markets are not tied to ANY real fundamentals. They are entirely driven by speculation and anyone who tells you otherwise is either ignorant or an idiot.

P/E ratios, quarterly reports, real economic data = all meaningless these days.

The prices move based purely on speculation and the markets are now more about gambling than investing. It is one of the key reasons our financial markets have become so volatile and long term investing has become a crap shoot even for some of the massive players representing hedge funds, pensions and everything else.

[PurrrsianPussyKat]

Sell in may and stay away!

[pornguy]

Only one of my stocks is up today and its 6.1% opened a lot higher. I just hope that its trend for the last few days keeps going.

[vsex]

Bad economic data for May