Treasury Secretary Mnuchin making a big mistake!

There is no such thing as a PPT that buys equities to supports markets. No evidence has been presented ever.

The fallacy of trading only using technical indicators is that you're disconnected from everything that is actually relevant to what moves the market:

... Tomorrow, the Secretary (Mnuchin) will convene a call with the President's Working Group on financial markets (colloquially referred to as the Plunge Protection Team), which he chairs. This includes the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, and the Commodities Futures Trading Commission. He has also invited the office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to participate as well. These key regulators will discuss coordination efforts to assure normal market operations...
 
Watch this until the end, from the linked queue-in point..


And now muse upon how the US got that fucker, about 21 years later. Intervention is NOT bad. It simply has to be used in a smart fashion.

Want me to go find vids of what Saddam did to the environment when he lit a ton of the oil wells in Kuwait on fire, and how much damage that would have done to our precious earth had not we all INTERVENED to extinguish them? People think the Exxon Valdez and Deepwater Horizon were bad...Man, they have compartmentalized memories. What Saddam did was an intentional act, and that was BAD. Very BAD! Put things into perspective man!

 
The fallacy of trading only using technical indicators is that you're disconnected from everything that is actually relevant to what moves the market:

... Tomorrow, the Secretary (Mnuchin) will convene a call with the President's Working Group on financial markets (colloquially referred to as the Plunge Protection Team), which he chairs. This includes the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, and the Commodities Futures Trading Commission. He has also invited the office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to participate as well. These key regulators will discuss coordination efforts to assure normal market operations...
But there is no evidence of a group buying equities to support markets.
 
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