Told you it's time to Buy the Dip©: Trump official calls bankers, will convene 'Plunge Protect Team'

[bond_trader_v]

https://www.reuters.com/article/us-...-convene-plunge-protection-team-idUSKCN1OM0LJ

WASHINGTON (Reuters) - U.S. President Donald Trump’s Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the “Plunge Protection Team.”

 

[Overnight]

https://www.reuters.com/article/us-...-convene-plunge-protection-team-idUSKCN1OM0LJ

After seeing that pic, and that report, well, anything goes.

 

[Stockolio]

They work behind the scenes and have been doing there thing already. Why make this public ? Current administration must be extremely desperate and scared... There is some 5D chess going on, could someone please help me understand why they would go public with this ? PPT is always active and always behind the scenes as they have been through out the year it seems

 

[Spectre2007]

They work behind the scenes and have been doing there thing already. Why make this public ? Current administration must be extremely desperate and scared... There is some 5D chess going on, could someone please help me understand why they would go public with this ? PPT is always active and always behind the scenes as they have been through out the year it seems

looking for the downside gap to be huge, when the razzle dazzle fails. It creates more emotional energy than if they stayed silent. The market is being engineered to crash 1929 style.

 

[Spooz Top 2]

They work behind the scenes and have been doing there thing already. Why make this public ? Current administration must be extremely desperate and scared... There is some 5D chess going on, could someone please help me understand why they would go public with this ? PPT is always active and always behind the scenes as they have been through out the year it seems

Exactly......

 

[southall]

The PPT couldn't stop the S&P falling 50% on two fairly recent occasions in 2002 and 2008.
If the market really wants to fall 50% this time too, the PPT wont be able to stop it.

Although in the short term they can trigger bear market rallies that cause the shorts to panic and cover.

 

[comagnum]

Trump and his admin are completely insane. All we have is a long overdue orderly sell off like you see on all bull markets at some point. They are going to create a bigger sell off by implying the market needs plunge protection. The big/smart $ in Asia & Europe is not buying into this - otherwise the futures would be on limit-up lock @ 5%.

The Fed made it loud & clear they had no more silver bullets to prop up the market after QE - no matter what. To stop the normalization of interest rates will cause a much larger economic melt down. Trump has the mental powers of a 9 year older - he should be plunged from office.

 

[vanzandt]

Mnuchin's a piece of work. He Tweeted that from Cabo.
So let me get this right. He's going to convene this call (with the "Titans of Finance") toes in the sand, while rubbing Coconut Coppertone on that hot wife of his?
Damn. Life is good.
maga!

 

[vanzandt]

Maybe he should call Trump and get one of those government Gulfstreams down there ASAP to pick up him and Barbie so he can get back to the office.

 

[Scataphagos]

They work behind the scenes and have been doing there thing already. Why make this public ? Current administration must be extremely desperate and scared... There is some 5D chess going on, could someone please help me understand why they would go public with this ? PPT is always active and always behind the scenes as they have been through out the year it seems

Jawboning.

The bankers are not going to commit their capital to "support" the market like the Fed. (If banks are using their head, they should be reducing exposure or even shorting.) The Fed can print whatever it wants with no conseqence.

Trump needs to stop whining like a little girl and explain to everyone where the blame for this hot mess belongs. (Eventually he'll wise up, but by then his words will be taken as "sour grapes" by unknowing hoi polloi.)