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Open Sesame
Open Sesame
Submitted By Peter Tchir of Academy Securities
This week’s market behavior had a mythical, almost magical tone to it.
In Arabian Nights, Ali Baba was able to open a cave of riches by uttering the phrase “Open Sesame.” Markets responded to any and every sort of connotation of “The Strait is Open” by rewarding participants with riches. We started this week bright and early, kicking off Bloomberg TV, and then moving on to Bloomberg Radio, and Tom Keene’s Best Ideas.
At the time we were all trying to understand what “Blockade” meant....
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