People are absolutely losing their shit, absolutely, because Gary Cohn resigned from the Trump carnivale. What’s important to note was Gary’s initial motive for joining Team Trump — being able to easily divest ~$250 million in Goldman stock, plus getting the opportunity to scratch working inside the Oval Office from his bucket list.
As a lifetime democrat, Cohn leaves House Trump with his reputation unchanged, and pockets inexorably thicker.
The idea that Dow futures are down 400 on this news is ridiculous. More than 100 NASDAQS have been removed from the national treasury and for what?
It’s important to note that Bloomberg is speculating tonight that Trump will widen the tariffs, especially targeting China. However, all of that is speculation and most likely untrue, at least in the interim.
Having sold my SOXL position today, I will most likely be buying this dip tomorrow morning.
If you enjoy the content at iBankCoin, please follow us on Twitter
And Stormy filed a lawsuit against Trump for not signing the “Hush” agreement. It’s definitely a three ring circus and so entertaining!
Fake lawsuit about a fake fuck. Amirite?
Cohn’s bankster buds at Citadel, GS, etc. casting their votes and cashing in on inside info by running stops… that’s the privilege of being a club member. Tomorrow… they’ll buy most of it all back. Kabuki.
Wow. The Gartman finally got a win. Overnight scorched earth time.
Uhhh about that…
Completely understand why markets are down. Markets do not like uncertainty.
Cohn was basically the only brain in the White House that could keep Trump in check. Now that he is gone, we are exposed to Trump imposing more plans that will be negative for our economy. Total uncertainty.
All that uncertainty existed in Feb. 2017. With a 9 vix.
[what soon became 9 handle vix]
The logic, does not, support, your argument
Vix was being suppressed. It was one of the most chaotic uncertain admin launching ever. The logic supports massive tampering, because it was extremely uncertain for months
Lol massive tampering?
How about the most crowded trade ever? Absolutely everyone knew for a fact the market would drop like a rock if Trump was elected.
You aligned yourself with the consensus and you and everyone else were all gonna be right?!? Come on now.
Showtime, you don’t make a very strong argument at all. Sure, there was uncertainty in Feb 2017. But there is much more uncertainty now, since his economic brain resigned and we have seen what Trump is capable of.
Wrong. We have NOT seen what Trump is capable of. Better go find a safe space, pal.
2 wheels is right; -1.5% is nothing.
Director of the National Economic Council. Think about that title. That person just quit because of a disagreement about an economic decision with the President. Anyone that thinks it shouldn’t affect the stock market is pretty clueless.
Try this: imagine if the Chairman of the Joint Chiefs of Staff quit because he thought the President was making a bad military decision.
I thought about the title, then I thought about any meaningful effect Cohn has had, specific to him, that any one of dozens of economists / executives / pencil pushers couldn’t have suggested, and, damn, came up empty. By that I mean the position is an inconsequential figurehead.
Maybe he’s taking a principled stance and really resigned because he hates tariffs. Or maybe he just found a convenient excuse to bail from the WH telenovela. No matter.
The market is skittish because of recent volatility, and clearly trump is a wildcard.
Anyone who thinks this will have a meaningful effect on the stock market likely also craps his pants daily in response to every breathless proclamation on CNBC.
Oh- and chairman of the joint chiefs? More important than this job by an order of magnitude, at least.
Cohn couldn’t do jack shit. His departure is fucking meaningless in the grand scheme of this shit circus.
Trump is getting rid of all the babysitters. Kelly is probably next.
Either Trump is doing the ridding, or Mueller. All day.
So when trump announces scrotums replacement, the Dow will reverse with feverish tenacity and resume upwards trajectory. This shit is ridiculous
Yet so easy to play the hysteria.
It’s well understood that you have to be quite a con man to join Team Trump to begin with.
oil gonna get its sh*t pushed in hard, big build projected
S&P looks like its gearing up for a big move,,…..DOWN,…..
comments,…
Comment: “You suck.”
Trump is a classic case of the Dunning Kruger effect. Too stupid to know how stupid he is.
It is amazing to see how much the lying Republican scum are willing to debase themselves to hang on to his coattails.
Once the lemmings realize where he is leading them, the jumping off the bandwagon will turn into a flood.
They got their tax cut for the rich, so now the Republicans will just play defense until the midterms.
yes, he is stupid that he became a billionaire and defeated 15 deep state Republican candidates before he defeated the quintessential deep state candidate, Hillary, to become President of the USA
the guy is obviously stump-dumb
Pro tip, he ain’t a billionaire.
Who the fuck is Gary Cohn? Up, bitchez.
This was one of the stupidest reasons for a dip yet and there has been plenty of stupid shit lately.
It wasn’t so much about Cohn …but about his resignation affirming the tariffs and perhaps the ascendance of Peter Navarro-ism (read his Wiki page). But, so far, everything I know is wrong.