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The Fantastically Profitable Mystery of the Trump Chaos Trades
As Charlie Gasparino has said, "As someone who has covered insider trading for so long, SEC Directors and FINRA could find the source of these trades in minutes— There Is Definite Hanky-Panky Going On”
Let’s hope the SEC or CFTC look into this. Martha Stewart went to jail for far less.
“Three days later, Trump lied about getting a call from China to restart the trade talks, and the S&P 500 index shot up nearly 80 points. The potential profit on the trade was more than $1.5 billion.”
I've raised this issue before -- if one were suspicious, one might think that Trump is playing the market for somebody's benefit. Easy for him to do because the todays' computer-driven markets respond instantaneously. Cause a big jump, then sell. Or sell short, then cause a big downswing. OTOH, you'd think that at least some segments would learn to ignore his short term noise. David
Just yesterday I heard an interview on Here and Now (WBUR) of Aaron Glantz, author of “Homewreckers.” I found Glantz’s findings on the ill-gotten wealth of Mnuchin, Ross, Barrack, and Schwartzman and how they benefitted from the financial crisis entirely demoralizing. Trump complained during the 2016 campaign that the “fix was in.” Ironically, because he had no idea what he was talking about, he was right. From the fixed election to the institutionalization of sleaze, nothing is too low for this Administration, whether it be trading on news or selling an ambassadorship. I’m wondering if any of these rats will jump ship. I wish I could write “when,” as opposed to “if,” but I don’t have that degree of faith.
Comments
“Three days later, Trump lied about getting a call from China to restart the trade talks, and the S&P 500 index shot up nearly 80 points. The potential profit on the trade was more than $1.5 billion.”
Meanwhile, in other news-
Trump has awarded G-7 summit to his Miami-area resort, the White House says
https://www.latimes.com/nation/nationnow/la-na-trump-mar-a-lago-health-violations-20170413-story.html
But then again it's OK if you're in the family or a close associate (Wilbur)....
Geez, it's been looking like this for months and months. If it walks like a duck . . .
Do NOT let them play you. Set your goals and objectives, select your asset allocation and sit this out.
and so it goes,
peace,
rono
Cause a big jump, then sell.
Or sell short, then cause a big downswing.
OTOH, you'd think that at least some segments would learn to ignore his short term noise.
David
https://www.wbur.org/hereandnow/2019/10/17/aaron-glantz-book-home-ownership-2008-crisis