Welcome to another edition of The Fat Pipe. There are a hundred things to cover, and all of them are of equal weight in importance.
Either that or my unmanaged ADHD is acting up again, and my filters are down.
The Trump Market Rescue
Yesterday was one for the history books. Trump tweeted internationally vital information, as is his style, and he ignited a market rally that was truly stunning.
Trump Tweeted this at 1:18 PM ET:
That caused this massive stock explosion:
The problem? Why wasn’t this just another relief rally, which are so common during bear markets? Because of this Tweet he sent out a little over 3 hours earlier:
Well, that certainly stinks a bit. The US President really ought not to be obviously providing front-running stock tips to the public. It smacks of market manipulation.
But not quite as much as the 100% clear, obvious, market front running by “somebody” who somehow knew to pile on big bets that the markets were about to launch higher and make major bank:
And:
Now, figuring out who these people were is child’s play for the FBI or SEC regulators. If they wanted to, they would simply peek into the trades to discover which account(s) made the bets.
If those accounts turned out to have access to non-public information, then that would be actionable criminal activity.