On January 26, 2024 and February 4, 2024 it was noted how Market Makers move a group of stocks without revealing their intentions to the public while providing minimal impact on the Dow’s movement. Between February 1, 2024 and February 20, 2024 Market Makers conducted selective declines in Amgen, Cisco, Honeywell, and Verizon. In order to avoid a rush of broad retail selling an offset to this decline was setup with a move up in issues such as American Express, Caterpillar, Salesforce, Disney, JP Morgan, Merck, Travelers, and Walmart. This was conducted to maintain the Dow within 50 point range between February 1, 2023 and February 20, 2023.
“Like the musicians in an orchestra, the ( Market Makers formerly known as Specialists) who conduct the movements of each of the Dow stocks work on behalf of their own interests while at the same time working for the fulfillment of the objectives of the system as a whole.”
Richard Ney, Making it in the Market, 1975, page 98
Note that this information is for educational purposes only and not a recommendation.
Stock charts courtesy of StockCharts.com.
