President Reagan founded the PPT as the aftermath of the 1987 crash and and the low of that crash was powered by a big force at work to buy all futures.
They are doing the work now again and it will be interesting to see if they can absorb the panic sellers. So far it looks good but as yesterday the game is over when the bell rings and people are scared of the last hour.
The current President will make a speech soon and the rumor is that he will make a substantial announcement instead of his usually sharp economic analysis. Sit tight, looks like a little trough today.
Berlusconi (Italy's PM) said they are considering to shut down all markets for a while.
Friday, October 10, 2008
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