Loading ...Tomorrow Likely To Be RECORD DOWN Day!
Don’t be surprised to see President Trump and Treasury Secretary Mnuchin attack this move by Peterfy of IBK. I don’t think there is anything they can do to stop it. Tomorrow is likely to be the WORST DOWN DAY in stock market history!
What is Peterfy of FBK?
Thomas Peterrfy. Founder and Chairman of Interactive Brokers.
yes thanks so what did he do that will create the greatest crash in market history ????
Oh I see they raised margin requirements…
One brokerage
Whats the big deal chartsmaster ?
i understand that will create some selling…but it’s just one broker and the selling will be today …no ?
So the question is…which one ( Trump or Biden) is good for the Stock market and which one is bad ?
This is unprecedented. They are raising margins EVERDAY a little at a time until late Oct. Total 35%. It starts a vicious and unending cycle you sell to meet margin calls and everday margins increase you sell more and it feeds on itself. Other brokers are likely to say they have to protect themselves and their clients.
I’ve been patient, today my re-entry points both in GDX and the metal were hit – clear 62% Fib, all ready to go ….. however things changed due to timing of this IBK action and of course a forthcoming media blitz….. (won’t move markets but still a sign of intent by TPTB)
https://www.zerohedge.com/markets/why-mainstream-media-suddenly-signaling-much-larger-stock-market-decline-coming
A few speculative thoughts…
We’d like to think that nothing trumps (pardon pun) the Profit Motive in markets however there is still the POWER motive which might temporarily over-ride it – think of the lack of outrage by the huge insurers and international businesses at the recent property destruction at their flagship locations – did they seem concerned, were they filing suits against the mayors or police for inaction?
It’s pretty foolish to trade or not on perceived ‘intent’ but I think the dots are aligning – maximum mkt pain – they have 30 days. What will the NWO architects and Euro bankers do with all that FAAGM stock they own (or rather, their CB’s printed) which has driven the NASD to the moon? I’m strapping in. Thanks Chartmaster and everyone who’s shared their thoughts on this development !
If we see the other brokers follow suit(I think Robinhood almost has to) I repeat my concerns. My post just a short time earlier stressed that the charts and technicals were flashing that a sharp selloff was likely. I figured it would be no more than a test of the March lows if that. With this unprecedented move on raising margins in such an insidious way it’s a GAME changer. I think it’s possible the lows get taken out over the next 6 weeks.