Friday, August 24, 2007
I've been trying to refrain from touching on this subject because I know it's going to spark a lot of controversy but here goes. Get this through your heads there is no plunge protection team, period. The markets are just way to big for anybody to control and that includes governments. The market is bouncing right now and I'm seeing all over the blogosphere the "PPT " used as the excuse for why the market is rising. First off if you believe in the PPT why in the world would you be short? Second if there is such a thing as the plunge protection team which supposedly was created by Reagan after the 87 crash then explain to me how in the world we could have had the 2000-2002 bear market. I'm all ears. If any one can answer those two questions with any kind of logical answer I'll consider the existence of the PPT. If not then quit blaming your losses on some imaginary group and take responsibility for your own mistakes. Jeesh it just amazes me the things people will come up with to try and rationalize why losses are not their fault.