The entire Comey testimony reads like the distraught scribblings of a troubled man, having been sent through the ringer one too many times. I suppose I’ll get into it later, in spite of being sick of the subject. But from a market takeaway, it’s incredibly bullish. While you might hear commentary from people with an ax to grind about Trump being the devil, nothing in the Comey testimony speaks of collusion. Therefore, and this goes without saying, stocks are moving higher.
Most impressively are the banks. And I’m not just talking about GS, MS, BAC and C. The regional banks are the true stars here, up an astonishing 3% for the day — with gains in stocks like UMPQ, SIVB, PB and NBTB. Correlating with that is the energetic rally in ‘Trump stocks’, which leads me to believe the market is pricing in a gigantic nothing-burger for Trump and a possible open door to pro-growth legislation.
Remember, it was the rare oversold call in copper by Exodus that preceded this move. If you’re a member of Exodus and simply using the chat room for your trading, you’re doing yourself a heinous disservice.
The overall market is mixed, with breadth at 50%. The focus of the rally is centered around infrastructure, banks and even nuclear.
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I don’t see the connection between Comey’s testimony and regional banks but I am not holding my breath that we ever find out who is pulling Commie’s strings and what they have on him. A director of FBI making such an ass out of himself is not something he would decide to do on his own.
Lock Him Up!!!!
Orange Julius Trump needs to be in jail.
@sac I’m afraid he’s a real ass , a grandstand ass.. he’s not playing on someone strings ..real deal here….
I think he is performance is great. I’ll even go out on a limb and predict that the nightly news will laud him.
For me, the most striking part was where he talked of this ‘shining city on a hill’ and how Russia violated our previously pure democracy …a democracy where we ‘fight among ourselves’, but a democracy that, until Russia, had been untarnished by any foreign power seeking to influence our internal debate.
Brought a tear to my eye.
McCain needs to step down. He’s done a great service to this country. He’s a hero. But at 80+, it’s time. He sounded terrible on the hill today. Guy called Comey… ‘president comey’ almost like he wasn’t sure who was in front of him. Aging sucks. We’ll all be there somebody except Fly and probably Jeremy when he transfers his conscious to AI.
But it’s time for McCain to go.
He’s hardly a hero, sorry. Unlike most other POWs, he didn’t live in a tiger cage.
What a stupid thing to write.
Really say whatever you want about his confusion today, political positions, his selection of Palin as his VP candidate, his role in the Keating Five, it’s just plain stupid and disrespectful to denigrate his service in the Navy or his time spent as a POW.
Longview, this is a pro-Trump web site. Being stupid & disrespectful are their highest aspirations in life.
Yeah I like McCain but I know what Alzheimer’s looks like and I simply am thankful for his service and hope that he retires when his brain deteriorates to the point that Trump’s has.
FCX from 11.64 to 12.20; my thanks sirrah for the use of your time machine.