It's been a long time since we talked about the DoubleSecret manipulators of the Presidents Working Group on Financial Markets
Sure enough, they (may) be back
Or just the rumor is enough.
But the Dow and other indices were in complete collapse right before the start of Monday’s final hour of trading. At one point the Dow, which represents only 30 stocks but is still a widely followed indicator, tumbled to a loss of about 1,600 points.
That’s as big of a decline as ever.
But then something happened. Someone arbitrarily and aggressively started buying stocks and halved the loss. Monday will still go down as a Wall Street massacre but that superhero buyer made it half as bloody.
Who was the market’s superhero?
Not a secret. The group called the President' working group on financial markets was formed during the Reagan era.