Thursday, November 06, 2008

Plunge Protection Team Lets It Slide

Markets are down 10% since the election. Today's chart tells it all:

Maybe someone should take a look at whether a large block of long positions in DJIA futures have just been unwound. Incumbent parties have never shied away from using the Plunge Protection Team's resources to make the U.S. economy appear healthy prior to national elections. That is no longer necessary.