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The King Report: Strategic buying of S&P futures is managing stock market decline
By Bill King
The King Report
Arbor Research and Trading, Barrington, Illinois
Friday, February 12, 2016
For six years a critical mass of investors poured into stocks as the primary hedge against wanton central bank credit creation and currency debasement. Now gold has become the hedge. Because the gold market is exponentially smaller than the globally equity market, its movements can be dramatic.
Stocks plunged on Thursday while gold soared 5.5 percent (at its high). Someone again surfaced to save stocks. After S&P 500 March futures plunged to 1804.20 at 7 a.m. ET, someone aggressively bought them. This generated a rally to 1833 by 9:58 a.m. ET. The 29-handle rally in the S&P 500 March futures kept U.S. stocks from collapsing.
Someone is managing the U.S. and global stock decline by strategically pouring into S&P 500 March futures during European trading. This type of intervention is characteristic of central bank currency intervention.
If the S&P 500 March futures buyer was a trader trying to front-run an expected rally into Federal Reserve Chairwoman Janet Yellen’s testimony at the Senate, he or she ignored what occurred to stocks after Yellen's appearance at the House. ...
We opined a few months ago that gold would reveal when central bankers lost control of the game. This dynamic is becoming increasing clear to the people of Planet Earth. ...
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