General Stock Ideas

[bigworld]

gfp: Yesterday's market rescue was classic Plunge Protection Team actions. On Tuesday night the Futures were still in the toilet after the bloodbath earlier in the day. But about 2 or 3 AM the PPT managed to reverse the Futures and get them going in a positive direction. I wonder how many S&P E-minis they had to have Citadel buy on their behalf to generate that reversal. But it was enough to carry through yesterdays trading day, even if the markets gave back 1/3 of the gains toward the end of the session. I'm very happy with how the metals and miners reacted. The metal prices held up nicely and the miners were off only modestly, and as I scan the numbers most of my mining stocks are back to last Friday's levels. I look for them to resume their rally no later than the FOMC meeting next week.