Trump says 50 percent tariff on copper imports imminent
Trump says 50 percent tariff on copper imports imminent
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he really has no clue what he does. none whatsoever
He’s stupid, yes, but he surrounds himself with people who are also greedy and malicious. This is just straight-up market manipulation.
After Trump announced plans to levy tariffs on the metal, copper futures jumped as much as 17 percent, Bloomberg reported.
The play is simply to buy a bunch of futures contracts beforehand, wait for the announcement and the resulting price spike, and sell immediately for a tidy 17% gain, or hold til just before he announces yet another “extension”. How many times has this happened so far this year? It’s so tiresome.
I'm just waiting for the point where essentially enough people have caught on to this tactic that the effect flips.
Now, when trump announces some policy that will harm a certain business, their stock tanks, a bunch of people buy the dip, the policy is called off, and the stock rebounds. There are probably already people that begin buying already once the policy is announced, in order to catch the dip.
If this continues, there could eventually be enough people trying to "buy the dip" that trump announcing a harmful policy causes a stock to jump, rather than dip. Which would be hilarious.