It’s early Thursday morning, and the E-Mini S&Ps are probing a minor resistance at 2298.75. Bears shouldn’t get their hopes too high, however. After being pinned to the ropes the entire day by a ratcheting rally that offered almost no respite, their pain has been compounded this evening by a four-point spike-out-of-nowhere that looks likely to produce a second-wind thrust breaching 2300.00. There are no obvious explanations for this exuberance — other than that, perhaps, our new President appears to be a man of his word and is getting things done. If he continues to wield his pen, Obama-style, for another month or two, at the rate he’s going — 12 executive orders have been signed so far — the nation will be making good progress toward de-regulation. This cannot possibly be bad for business, and that’s probably why investors have been celebrating.
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Are we forgetting Trump’s other promises? Do a YouTube search for Trump’s repeated promises to pay off the federal debt completely in 8 years. Yes. 20 Trillion GONE … sounds like renegotiating with Bond Holders (which is HOW he became so rich) and LOTS of inflating it away. Maybe he sells off all federal lands, but Im thinking cranking up the presses is easier.
Oh, and get ready for High Tech being released en masse. Trump is the favorite Nephew of the MIT professor who poured over Tesla’s notes for decades for the Government. Just a coincidence the First Lady is from Tesla’s home country?? Look up Trumps statements on “releasing energy”…
(So yes, Michelle Obama did lose her job to an immigrant. Karma much?)
Rick, at this point there are no options left except the markets rise. And keep rising despite what happens with rates. The pensions, funds, etc must be kept flush. Any person or country that stands in the way will be “liberated.”