Ombow, The PPT/Plunge Protection Team didn't show up today, which is ominous.
Since the mid-term elections are less than a month away, you have to wonder if the powers that be are trying to hurt the Republicans/Trump in the election. Who knows, but that was the first thing I thought of during today's plunge, especially when the PPT failed to arrive in the afternoon. It could be that they want to ensure the Reps lose the House so the threat of impeachment is still available (so they can keep Trump in line).
On the other hand, October tends to be a bad month for stocks, and with interest rates rising etc, it might just be a normal selloff. Sure seemed suspicious though (lack of PPT action). It felt like a crash, and in the aftermarket they still didn't step in with support.
We know the Fed wants to continue raising rates in Dec, and if the market really crumbles they'll have to back off on their normalization plans. The next few days should be interesting..
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