Plunge Protection Team ready for duty, sir! But forreal tho, hopefully this isn't just a technical bounce.
The momentum behind this buying is insane... Let's just say, gold wont have a good day, and Oil shorts are gonna cry
As I said the last two days I see a significant bounce coming, at least 4% is in the cards, however get ready to sell sell sell...I'll be adding a ton of short ETFs so I hope the markets rally 7%~8%- 9%!!!!! Bring it!
I used to be a member of the Plunge Protection Team. The Plunge Protection Team Facility where I worked for a few months was located inside of an old abandoned military aircraft hanger. This hanger was converted to a multifloor facility with many desks and computer monitors. Although we did not know what financial instrument we were trading, we could get a sense of the urgency of the situation at hand by a signal light. When the signal light was green, we were to hit the buy button at a somewhat random and leisurely pace. When the light turned yellow, we were to hit the buy button consistently at a even pace. When the signal was red, we were to hit the buy button as fast as possible until the light changed back to yellow. I was once called into the head trader’s office for a repremand because my buy click rate during red alerts were not as fast as my coworkers. While in the head trader’s office, I noticed his keypad had three buttons. They were “Buy”, “Federal Reserve”, and “Swissair”. Presumably, if this head trader felt the PPT could not keep up, he was to notify the Fed in order to get qualitative easing. The “Swissair” button was probably for creating an expedited reservation for flight out of the US, should Fed stimulus measures failed. I was eventually fired over my slow click rate, as I was not willing to use the techniques that some of the other traders used to maintain a high and sustained click rate. Namely, self pleasure while simultainiously clicking the buy button. Disclosure: Any simularity of events, places, and people depicted in this story to actual events, places, and people are merely coincidental.
Futures drifting down. Cue PPT in 3 2 1 to save the day! The PPT right, the guys on the CME who pop out from under the floor tiles in the red, white and blue trading jackets. They are the only ones I have ever seen whose clearing company is the Federal Reserve Bank. They all have the acronym FED on their badges too right. They're the ones stepping into the S and P pit and lifting every offer in site right? Same guys walk over to the dollar yen futures pit and hit every bid in sight right? Then when they get the markets to where they want them they creep back under the tiles. This is all funded by Exchange Stabilization Fund. https://en.wikipedia.org/wiki/Exchange_Stabilization_Fund