Platinum has pulled back out of no where, and it fell below its medium term support level of $1800. This made gold touch $1407, and silver came to $35. Equities fell out of their seats, and the bear shorts had their day. Bernanke's PPT from the President's Working Group on Financial Markets may have saved the day for now, but they were forced to unload their shares in Hess and SLW. How many shares does Geithner have left after taking silver through its first ten year bull move in he Fall of '08?
I think that the President's Working Group came into the market at the bottom of the Fall of '08, and the Spring of '09. I think they bought a lot of corporate equity, especially in the miners, and more towards the former than the latter. I think in Spring '09 he invested in the corporations that the Fed had bailed out, for example CAT. I think then they bought a shit ton of Netflix. Precious metals bottomed in the Fall, and with it, Bernank's Plunge Protection portfolio.
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