The market is a total farce

As you all know by now, Google share trading got halted on NYSE yesterday after an "unexpected" release of its 3rd Qtr results early. The "erroneous" release, claimed to have been done by mistake and without authorization, showed the company's operating income printing at $2.7361bn on expectations of $3.536bn, a massive 23pc miss. Predictably the stock plunged with the obvious impact on the NASDAQ and other indices.

The halting of trading was in compete contravention of NYSE's circuit breaker Rule 80B but justified as necessary to give a chance to the company to file properly. The numbers were unchanged in the "proper" filing.

After a 2.5 hr suspension, buyers lined up and the plunge was halted when trading resumed. Further gains were seen in AHs trading. Miraculously VIX went back to unchanged, after all this massive miss was only by the world's 5th largest market cap company so what's to worry about, and CME not be outdone announced a lowering of e-mini margins to further support the market.

If I didn't know any better, I could easily come to the conclusion that the market has become strictly a central bank manipulated propaganda tool and not a price discovery mechanism. I could also conclude that the release of the earning number was intentional, not accidental, in order to contain and manage the damage on NYSE, as opposed to reporting after the close and watching the Asian (and then European) markets go into a panic selling mode.

So I ask, in this Bernanke world all investors are forced to live in where money costs nothing, risk is riskless, leverage leverages for more leverage and paper trumps real assets......WHO OWNS THE MARKET?