Election Market Wackiness

If I didn’t know better, I’d say that someone is trying to panic the market at Tradesports. Take a look at this:

About ten minutes later, President Bush was back up to 40. I don’t know whether to believe that this is a genuine collapse in support for the President, or if someone is trying to manipulate the market to create the impression of a collapse in support. The only piece of news out that could cause this sort of reversal is the early exit poll results posted on Drudge a while ago. I don’t think we should put too much stock in them, but that’s just me…

Update @4:25 pm: The election contracts are still under fire:

There doesn’t still doesn’t seem to be any basis for this. The exit polls are unreliable, so those should be looked at with suspicion. Does the market know something I don’t know?