WASHINGTON, May 22, 2017 – It was an all-President Trump weekend for the MSM, whether the reporters and networks involved liked it or not. In his first trip abroad as President, Trump was – mirabile dictu – enthusiastically received by the numerous Arab countries and leaders he met. Small wonder. They were systematically dissed over the last eight years by the Obama administration.
Obama and his willful Marxist naïfs somehow thought that coddling the anti-human vipers currently in charge the Iranian terrorist state would lead to peace, happiness and joy across the globe. Over those eight years, we saw how that one worked out, just like we did with Obama’s “Russian Reset.”
In one weekend, however, President Trump effectively:
- Re-established and endorsed the traditional U.S. alliance with its largely Sunni partners in the Middle-East;
- Put the Iranian terror and nuke network on notice – again – that their flouting of international agreements would no longer be tolerated, particularly when it comes to nukes;
- Began to push the already-developing tendency of alarmed Sunni Arab-dominated countries to align more closely with their new, potential best-friend, Israel – a once outrageous notion but now not so far-fetched; and
- Inked significant agreements with key countries to purchase billions of dollars in U.S.-made products and military hardware, while also picking up a greater share of their own defense expenditures resulting from mutual-defense pacts. (He’s already made considerable headway on this issue with American NATO allies.
Whenever Wall Street sees dollar signs with a big “B” (for billion) in front of them, corporate America and Wall Street always jump for joy and throw a party. That’s what’s been happening in Monday trading action as we round the halfway point in the trading day.
As of 12:30 p.m. ET, the Dow is up roughly 100 points, to stand at 20,903.44, a half-percent gain or thereabouts. The broader-based S&P 500 is perched at 2393.09, an 11.37 point gain, equaling a half-percent gain, just like the Dow; and the tech-heavy NASDAQ is currently at 6125.36, up a nifty 41.68 points for a nearly 0.70 percent gain on the day. That’s pretty impressive trading thus far, given last week’s investing scare-cam action in the markets, mostly caused, according to the cognoscenti, by fears of a successful Trump impeachment. Or something.
Last weeks trading reactions to the barrage of Trump-Comey-Russia-ImpeachNow brouhaha were similar to those available on the unrelated (but funny) extended video clip below.
Today, however, all is forgiven on major stock exchanges, at least until the next time. Nearly every stock sector is getting a boost today as investors can once again hope the (nominally) Republican-controlled Congress will start pushing through all that Obamacare-replacing, tax-saving stuff the Party itself has actually been pushing for the better part of the last six years. As opposed to endlessly “investigating” its own president.
Hope springs eternal.
If markets can stabilize this week from last week’s utter nonsense, we might be able to make some selective trades in our portfolios. You might want to play as well.
But right now, sadly, the “Sell in May and Go Away” mantra still lurks around the corner, even in the most bullish of trading hearts, so we, at least, plan to tread lightly when it comes to chasing the market’s day-to-day mood swings before committing any more cash to the game.
After all, when President Trump returns, you can bet your bottom Bitcoin that the MSM will fire up those impeachment drums again, with the usual unpredictable-to-negative results. Stay tuned.