Volfefe!
I think it's illegal to do market manipulation via tweet!
"JP Morgan has come up with a tongue-in-cheek name for a serious index to measure the impact of President Donald Trump’s tweets on financial markets.
Analysts have named it the “Volfefe Index” for the nonsensical word “covfefe” that Trump tweeted — and never explained — early in his presidency.
The index was created with a number of intricate graphs based on minute tracking of the number — and the time — of Trump’s tweets, as well as the words he uses.
“Trade and monetary policy have become an increasing focus for the executive branch ... via this carefully scrutinized social media platform,” JP Morgan analysts wrote in their report, Bloomberg reported. “In response, a broad swath of assets from single-name stocks to macro products have found their price dynamics increasingly beholden to a handful of tweets from the commander-in-chief.”
Analysts found that Trump’s pertinent tweets almost immediately create a measurable fraction of volatility “spikes” for both 2-year and 5-year Treasury bills, CNBC reported.
“We find strong evidence that tweets have increasingly moved U.S. rates markets immediately after publication,” the JP Morgan report states."
Back in the 90's trump was front running stocks, nothing done about it.
Now as president he is manipulating stocks via his twitter shit. But is it really batshit crazy? We know he talks nightly to sean hannity, IMHO, the perfect foil to put ideas into trump's vacuous head. While jpmorgan is tracking the effect of trump's tweets is anyone tracking the people who may possibly be making money from these market swings that occur with trump's tweets?
Of course it is ILLEGAL just as front running stocks is ILLEGAL. The real question is why is nothing be done to rein trump in?
I think his deal with the devil grants him immunity from any criminal repercussions from his actions. I don't see any other explanation.
@jerry99 I don't believe in a devil, trump is subhuman.
He's giving the Republicons everything they want. That's why.
Some time ago I read about a chap who automated a trading bot based upon Trumps Tweets. Probably not as sophisticated as JP Morgan's. Checking up on it I see that it traded AMZN on the basis of Trumps tweets about fires in Brazil - [twitter.com] but for the most part the trades seems to be more successful than not [twitter.com]
Profits go to planned parenthood.