24 January 2017

Stocks and Precious Metals Charts - Risk On to Dow 20,000

Today was one of those risk on days, when the porcine class sees things going their way, or they will make it so.

A primary driver may be the desire to get the Dow Industrials, which are now pretty much only industrial in name only, up and over the headline 20,000 number, the better to eat you with, my dears. Yes, it's a bubble. That's what the Fed and the financial system do these days, go from one bubble to another, bringing in the sheaves of hypocrisy and fraud.

Tech stocks were also breaking to new highs. The VIX slumped back down to the lower bound of its recent trading range. And gold and silver were off. Risk on, remember?

As for now, these equity markets are pretty clearly signaling a trading range, and not a post-election decline. I think that comes later.

The Trumpster is doing some good things and some dodgy things. The TPP was a neoliberal abomination, and canning that deal and putting NAFTA back on the table is a smart move, no matter what the the establishment's professional auxiliary may say.

I have some bad feelings about the Keystone and Dakota pipelines, and we will have to see where that goes, and to whom it flows. The Donald is hard to predict, because I do not think his mind is always fully engaged to his mouth, or a category of first order principles, other than profits. Opportunists and wheeler-dealers tend to have that difficulty.

But I don't have much sympathy for those who knock him for jawboning companies, and trying different tactics to generate jobs, decent full time jobs, for the working class, in a tangible leader-like manner. In this he is more like a Franklin Roosevelt. Yikes, did I say that? Yes, and Obama seemed much more like a Herbert Hoover, but with a much cooler panache, and significantly less operational experience.  Hillary?   It is not polite or fitting to compare a lady to Il Duce.  But as a pair of Clintons goes, it does come to mind.

Well, enough said, and it's probably better to move along and get something useful done.

Have a pleasant evening.