iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,327 Blog Posts

Markets Bottomed on the Exact Day Mnuchin Met with PPT

Okay, so let’s not delve into conspiracies about some secret group that was quite literally formed during the Reagan administration for the explicit purposes of buoying share prices (12631) — but markets pretty much bottomed on the exact day Mnuchin announced he was meeting with them.

Whether that the “the bottom” remains to be seen. But it should be noted, for the sake of future generations, that this happened.

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18 comments

  1. acehood

    I don’t get why people are so offended by the mere concept of the PPT.

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  2. og

    Sold this morning pop. Will have to see how crazy Trump gets tonight.

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  3. numbersgame

    Well, my invesmetn account is 100% cash/Agency bonds.

    My trading account is also cash heavy, but still short NFLX/long QQQ, near nuetral in magnitude except overall bearish because of NFLX’s high beta.

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    • 'merica

      Maybe they are a buyout target.

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    • ferd

      Trying to help your NFLX position ..shorted here ..set-up nicely on hourly

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      • indie

        DIS is launching its streaming service later this year.
        AMZN already got its streaming service.
        AAPL is the new MSFT.

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        • numbersgame

          sarcasm

          How do you think it got to a 100+ PE?

          BTW Apple has also announced it is launching a streaming service, and even when it hired TV and Film execs to run it, there were *still* “AAPL will buy NFLX” rumors

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  4. edge

    Anyone who watched the tick by tick action that day can tell you the market appeared to be manipulated. If so, likely for someone’s political gain.

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  5. ferd

    Took a little crude off as most conservative initial target hit here ..finally. Now for 50+?

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