by Andy Hoffman, Miles Franklin:
Today is one of those days in which nothing occurred overnight. Japan was closed for a holiday, Chinese stocks were unchanged and little transpired in the European and U.S. pre-market sessions. Regarding the latter, the PPT is hard at work ensuring the “Dow Jones Propaganda Average” rises as it nearly always does on Tuesdays, in perhaps the most blatantly obvious “sixth sigma” market intervention imaginable.
Per below, yesterday demonstrated the typical “dead ringer” trading pattern turning equities sharply higher at exactly the 10:00 AM EST time that Fed POMO or “Permanent Open Market Operations” are affected. To wit, just as “quantitative easing” is but a euphemism for printing money and monetizing treasuries, POMO is printing money to invest in the stock market. In this case, for the second straight day, the goal was to convince the world Friday’s NFP report was actually “good news”; and thus, early, large stock losses were – voila! – converted to gains within 30 minutes time.
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