Thursday, December 27, 2018

The Market Giveth, The Market Taketh Away, And Giveth Again

Stocks went on a wild ride Thursday, a phenomenon confounding to novice investors but completely understood by market observers who have been in the game for a few decades or more.

There's little doubt that the Dow's plunge of 600 points and last-hour rally were the work of the Plunge Protection Team, or PPT, or as they are formally known, the President's Working Group on Financial Markets.

Here are a few links for reference:

Mnuchin Calls Plunge Protection Team; Stocks Soar One Day Later

President's Working Group on Financial Markets

Happy Holidays!

You've been played.

Dow Jones Industrial Average December Scorecard:

Date Close Gain/Loss Cum. G/L
12/3/18 25,826.43 +287.97 +287.97
12/4/18 25,027.07 -799.36 -511.39
12/6/18 24,947.67 -79.40 -590.79
12/7/18 24,388.95 -558.72 -1149.51
12/10/18 24,423.26 +34.31 -1115.20
12/11/18 24,370.24 -53.02 -1168.22
12/12/18 24,527.27 +157.03 -1011.19
12/13/18 24,597.38 +70.11 -941.08
12/14/18 24,100.51 -496.87 -1437.95
12/17/18 23,592.98 -507.53 -1945.58
12/18/18 23,675.64 +82.66 -1862.92
12/19/18 23,323.66 -351.98 -2214.90
12/20/18 22,859.60 -464.06 -2678.96
12/21/18 22,445.37 -414.23 -3093.19
12/24/18 21,792.20 -653.17 -3746.36
12/26/18 22,878.45 +1086.25 -2660.11
12/27/18 23,138.82 +260.37 -2399.74

At the Close, Thursday, December 27, 2018:
Dow Jones Industrial Average: 23,138.82, +260.37 (+1.14%)
NASDAQ: 6,579.49, +25.14 (+0.38%)
S&P 500: 2,488.83, +21.13 (+0.86%)
NYSE Composite: 11,285.31, +81.22 (+0.72%)

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