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I nearly fell off my chair when...

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john_1
Super Contributor
Y-man I could not believe my ears when listerning to bloomburg. A trader actually mentioned the Plunge protection boys! Oh what a zarperian moment that was.
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9 REPLIES 9
YNWA
Super Contributor
Jonno...did you read that doc I said you must download about the PPT??
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john_1
Super Contributor
Yes I cant remember all the details but I do remember going to close the curtains and checking my phone for bugging devices for the next couple of days , I made you I never went near that www again.
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Champ_golfer
Frequent Contributor
They do exist guys, and short SSF traders drive them sharply down early am,just to switch to long and ride the recovery wave back up. This sometimes happen within 30 mins,unnoticed by most normal market traders.. There is a strong correlation between the SSF close out margins being used up and the high/lows for the day/the SSF's price matrix.
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Victoria_1
Contributor
The Plunge Protection Boys? What is this all about, I missed it, would you please fill me in?
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Not applicable
Would some wise soul please explain why the Plunge Protection Team is not supposed to exist? Or why it's such a mind-bend that they do?
http://en.wikipedia.org/wiki/Plunge_Protection_Team
http://www.sprott.com/pdf/TheVisibleHand.pdf
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Victoria_1
Contributor
Thank you Gentle AVS... AND....thank you to the Plunge protectors also. I can think that they SHOULD exist, I just wonder how far they would go to "save" the market from crashing?
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Not applicable
If it's them, then the question should rather be HOW LONG can they carry on protecting the US market every time it crashes? Anybody who's done any kind of TA on the DOW will have (should have?) noticed the negative divergences over the past five years. The index increases artificially, when it should have dropped, or the drop isn't enough. Is this due to the actions of the PPT? And if it is, then surely the Fed's Reserves are going to dry up some time? Unless, of course, they make a truckload of money by getting rid of their stock when the prices are high again - hmm . . . that opens a beeeg barrel of worms . . .
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SimonPB
Valued Contributor
avs, it's called a printing press.
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Not applicable
ha! which implies parity with the Zim $, or the lira, or the yen? One day?
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