We saw PPT at work from 3:30 to 4pm on Friday. The line on the 1 minute chart during that time period could not be any straighter than that. Totally unnatural trading.
But I remembered the USG at one time was majority owner of GM, AIG... last time around? Maybe this time USG can still own BA, UAL, DAL....?
Those positions were public knowledge and they sold their stake in GM. There are idiots on here who believe the government has been buying equities the whole bull to such an extent that they move the entire market. Pure fiction. Meanwhile, many top companies were so cash rich they bought back big chunks of their own company. In fact, with near zero interest rates, that could pick up in a serious way again once the virus is under control. Which is of course is fuel to a possible V shaped recovery.
fed buying equities now: https://www.ft.com/content/cf485398-689d-11ea-800d-da70cff6e4d3 https://www.marketwatch.com/story/h...could-finally-calm-rattled-markets-2020-03-17 https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20200317b1.pdf
https://www.cnbc.com/2020/03/22/stock-market-futures-open-to-close-news.html unlimited equity purchases by uncle Sam. I guess the state owning the means of production was thee answer after all?
well, these posts did not age well. Hearing some chatter of negative interest rates now: https://www.forbes.com/sites/amiyat...01/getting-ready-for-negative-interest-rates/ Getting Ready For Negative Interest Rates