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onenote

(42,700 posts)
6. Her early sales were suspicious but the Feb 26 and March 11 transactions are not
Fri Apr 3, 2020, 12:03 AM
Apr 2020

Don't get me wrong -- her January transactions should be investigated and acted upon. But the facts are that her February 26 and March 11 transactions are unassailable.

By February 26, the market already had been on a downward trajectory for several days. (It peaked at 29,551 on Feb. 12 and was down to 27,081 (8.4 percent) at the close on February 25. And by March 11, the market was down to 25018 -- over 15 percent from its high a month earlier).

In other words, by the time these transactions took place, lots of people were being advised to dump certain stocks and buy others. I was receiving such advice from my financial advisor. And companies like Lulumon and TJ Maxx, which generally were doing even worse than the overall market, were obvious choices to be sold.

This doesn't get Loeffler off the hook for the sales that were made before the market slide. But if we start screaming to "lock up" anyone who made market-savvy trades after the market already was cratering, I bet we're going to find a bunch of Democrats did the same thing.

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