Trump stock market rally continues; Dow hits new high

Time to invest in health care companies I guess.

Seems Ryan announced tonight that as part of killing Obamacare, Medicare will also go. Retirees will be moved to private insurers.

 

I was dismayed when I saw the market went up. I think it's a reflection of the value shareholders expect to unlock now under Trump -- value that had been locked up for us, the people. They anticipate tax cuts that will be money back in their pockets at the expense of the national debt our children will have to pay. They anticipate doing business will be cheaper with less regulation on greenhouse gases, which enriches them at the expense of the climate. When the bills come due for mitigation of climate-related damage, it'll come from the taxpayer and not the shareholder. They figure there will be less regulation around things like banking, employment, environmental protection, civil rights protection, consumer protection. The shareholder will be enriched, but the risks of bad acts, catastrophes, and soft costs will be borne by individuals, not the shareholder. Insofar as those risks or impacts have to be mitigated (say from the next banking crisis), the taxpayer will pay, not the shareholder. The wealth you see reflected in the stock market rise is wealth that will be extracted from you and me. Let's celebrate.

Like how you built in an argument ahead of time so you can't be wrong when the market turns.

 

Today, Wall Street had a robust opening, propelling the DOW to surpass 26,000, another new high, w a gain of > 240 point. Both the S&P 500 and NASDAQ had strong openings as well. volatility was still ~ 10%

Then, shortly after 1 PM, EST, heavy selling began, the DOW was down as much as 100 points, a 350 point reversal, the biggest one-day reversal since June 2016. DOW ended up down ~ 10 points. Volatility had risen to > 11%

the reversal started when the news broke that Steve Bannon had been subpoena by the Special Council, Bob Mueller, to testify on the investigation into the Trump campaign/WH. lots of selling.

if anyone has the dirt on the Trump campaign / WH, it'd be sloppy Steve. and judging from his comments as reported by Michael Wollfe's best seller, "Fire and Fury", he is not shy about spilling the beans, especially against Javanka

does this foreshadow the end of the Trump rally ?

not only is the stock market a leading economic indicator, in the case of the Trump WH, it can also foreshadow the fate of Trump's presidency

Even w a strong market, Trump's approval has trending down in all categories, even among his base.
A weakening stock market would only add fuel to the fire

 

Gee, I remember the days when stock market gains were all the rage...

 

Maybe it got tired of winning?

 

How come @MojoMan is no longer talking about the stock market?

 

Because MORONMAN is hiding.

DD

 

ah, the back-pedaling MoJo


from this

to this

 

So when it was up, you gave all the credit to Individual 1. You even titled this thread as "Trump stock market rally continues..."

But now that it is down, your answer is a shrug and an "oh well, it always will just go up and down."

So were you lying then or are you lying now?

 

...why can't he be lying all the time?

...it cuts down on all the confusion if you look at it this way.

 

Good call by JuanValadez, you had your excuse baked in.

Those tariffs keep chipping away...

 

mojoman explaining the stock market situation...

 

TariffMan starting up his own league and needs a few more shills to burn

 

https://www.macrotrends.net/1358/dow-jones-industrial-average-last-10-years

Now you should probably define "interrupted" and/or "steadily", for all of us financially illiterate numbskulls who populate the bbs.

 

Well... Probably not a good idea to make a thread about a rising stock market to praise your cult leader if you knew this.

 

Looks like someone's karma ran over their dogma.

 

I don't want to live past 74. How much money will I need?

 

MAGAMan stewing in his own BS. Sad!