If you are wondering what the blank happened in the markets ... Here is what I wrote to my paid subscribers today ...
"This was the classic Wall Street adage scenario of: “sell the rumor, buy the news”. The elections came and went. What little apocalypse occurred overnight as the futures took a nosedive. By the time New York session started, the futures were already flat to slightly up. Session close will very likely see indices and many stock funds well off the recent lows and within a striking distance of the all-time highs.
October through December is historically the most bullish period of the year for stocks, so a year-end rally could surprise many bears.
The stock market and a vast majority of stock funds are bullish in the long-term, so any pullback should be viewed as a buying opportunity.
Conversely, what started as a little weakness in the US Treasuries turned into a rout as investment-grade bonds of all sorts fall out of bed.
US Dollar did the same thing – plunged overnight only to finish on a very strong note.
Gold did the opposite of the Dollar. There is now a stronger and stronger case for the new bear market in gold."
The world did not end.
"This was the classic Wall Street adage scenario of: “sell the rumor, buy the news”. The elections came and went. What little apocalypse occurred overnight as the futures took a nosedive. By the time New York session started, the futures were already flat to slightly up. Session close will very likely see indices and many stock funds well off the recent lows and within a striking distance of the all-time highs.
October through December is historically the most bullish period of the year for stocks, so a year-end rally could surprise many bears.
The stock market and a vast majority of stock funds are bullish in the long-term, so any pullback should be viewed as a buying opportunity.
Conversely, what started as a little weakness in the US Treasuries turned into a rout as investment-grade bonds of all sorts fall out of bed.
US Dollar did the same thing – plunged overnight only to finish on a very strong note.
Gold did the opposite of the Dollar. There is now a stronger and stronger case for the new bear market in gold."
The world did not end.
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