Margin Hike? Really?

Spot the margin hike and tell me (with a straight face) the price action is because of the margin hike. I annotated it on the chart....where's Waldo?

And so now when margin hikes occur prices go up...mmhmmm, had nothing to do with liquidation of assets to raise cash like from yesterday -

"Yesterday, the textbook was thrown out the window. All asset classes saw sudden and sharp moves far in excess of normal volatility patterns. To an old timer, that points to one conclusion. Liquidation. Wide-spread liquidation across asset classes. Currencies, bonds, commodities and stocks all moved swiftly and sharply in a direction that screamed - Seek safety! Raise cash! Get liquid...

All of that had a quick and discernible negative impact on markets. But, the selling was far more pervasive and dramatic than simply a conscious adjustment of positions based upon new data. Thursday’s action screamed liquidation - and not all of it voluntary."

-Art Cashin, 22 September 2011

Quote courtesy of:
http://jessescrossroadscafe.blogspot.com/