I wouldn't read to much into what the market does on any one day. For months the markets were clearly communicating they were not fine with a Trump presidency, and then when it finally happens everything is reversed. I think there are forces at work beyond our comprehension, beyond the rules of common sense and conventional econmonic wisdom. But such was the election as well and the world for that matter in these bizzare times.
Also, interesting that today is on track for the biggest reversal since the financial crisis of 2008. Of course for any investor that doesn't follow after hours trading, this all looked pretty uneventful.
Try not to ignore the obvious here. The whole "the markets were communicating" was just an interpretation.
I think it is obvious that I like many others can no longer trust our senses. Nothing is obvious to me any more, or at least nothing that I think is obvious turns out to be so. I do know that shorting has not paid off this last year and buying the dip has paid. Still I will continue to short when the market rises to these levels until something fundamentally changes to make me think differently.
Earnings after the close today: ($NTES $TASR $SHAK $SPWR $MYL $ETE $SLW $MIME $SEDG $TWER $OMER $CPRX $XON $JUNO $MNKD $XONE $EVOK $HLIT) Earnings before the open tomorrow: ($M $HIMX $KSS $RL $SODA $PRTY $VSTO $CCE $AZN $PRGO $AGI $WIX $CLSN $CGIX $MCRB $COT $EARS $URRE $MGIC)
The same way that the tea party was pissed with the Republicans, we are going to see progressives put down the bong and actually do something for a change.
It's funny to see these wide eyed republicans try to buddy up to Trump. Do they think he is suddenly going to stop being Trump just because he was elected president? I am going to have to add Trumps tweets to the FOMC comments as the main drivers of the market for the next few months.
what in the world is going on with these markets? i dont even.... i mean im in biotech and oil mostly in my portfolio, but still i did not expect this at all. im glad i sold gold at the start of the session, its like if you just ignored the election and kept buying the dip, you would be fine.
I think this is the big thing. Perhaps our interpretation of why the market was dipping (fear of Trump) was wrong...not sure what another interpretation is. But be careful of making conclusions from wrong interpretations.
It's certainly possible my interpretations were wrong. Cause and effect are hard to prove in something as complex as the market, but the Comey letter seems to offer some support for the correlation. What is not interpretation is that wall street was caught on the wrong end of a surprising poll reversal and once again suffered little net damage as a result. My opinion is that wall street does fear the uncertainty of a Trump presidency, was caught off guard by a suprise, dropped in response, at which times the Dimons and Ichans off the world swooped in to buy another dip oppurtunity when the overnight lock limit triggered. This combined with the rebalancing into sectors helped by Clinton's defeat helped get us were we are now.
the rebalancing was very apparent today, everyone was trying to get into sectors based on trumps policies and speeches, whether it plays out that easily or not will remain to be seen. but either way biotechs have to be the biggest winner today and going forward, i want to add more of it, but i didnt feel right adding today, going to wait for markets to settle a litte.
It was more than just Jaime Dimon and Uncle Carl. With the kind of volume of the futures market last night - influential parties know something we little kids don't.
