Makes me wonder if this is his thinking..."This has been a technical rally, and fundamentals have yet to catch up, so it is easy enough for it to roll over on technicals. The transports have begun leading these markets down and that will cause the technical traders to pile on the short side. If I buy up BNI at a nice premium, then the Transport stocks will reverse and maybe just maybe I can save the rest of my holdings from going down by getting the shorts to stay away."
Won't work, of course, but if I had enough money to manipulate the markets, this is what I'd be doing. Let's see if he can figure out a way to restore the dollar decline, quickly, since the downtrend line was broken overnight.
As I recall, the last time he was buying anything, the markets dropped like 30% from that point.
Joe
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