The trading desk that controls the fate of the US-economy is located on the 9th floor of 33 Liberty Street, also known as the home New York Fed. From a trading desk cluster at this location, the uber-secretive “Plunge Protection Team,” <PPT> directs the vast money machine at its disposal to determine the daily level of interest rates, and the next 100-point swing in the S&P-500 index <SPY>.
The PPT is the bridge between the marble corridors of the Federal Reserve…
Wall Street notched its best day in 10 years on December 26, giving some post-Christmas cheer to a market that has otherwise been battered this December. The Dow Jones Industrial index jumped more than +1,000 points higher – its biggest point-gain ever — rising nearly +5% and S&P 500 index also gained +5%. The technology heavy Nasdaq led the way soaring +5.8%, or +361-points, – its best percentage advance since March 2009.
Shares of tech giants were some of the biggest gainers…
Jesse Livermore was famous for making and losing several multi-million dollar fortunes during his professional career. In his early teens, Livermore went to Boston and started his long career in stock trading by posting stock quotes for the Paine Webber brokerage firm. He then began trading for himself and by the age of fifteen, he had reportedly produced gains of over $1,000, which was big money in those days.
Aug 20, 2018
