This is the part of the narrative when nothing works to instill confidence, especially not the President via Twitter. Here’s Trump quoting a Wells Fargo analyst in a desperate attempt to provide succor for markets.
“If the Fed backs off and starts talking a little more Dovish, I think we’re going to be right back to our 2,800 to 2,900 target range that we’ve had for the S&P 500.” Scott Wren, Wells Fargo.
— Donald J. Trump (@realDonaldTrump) October 30, 2018
And here’s Trump trying to congratulate himself for up stocks, while at the same time painting a grim picture for stocks should you vote democrat. With this tweet, he’s saying ‘vote for those fuckers and this downward dog will last forever.’
The Stock Market is up massively since the Election, but is now taking a little pause – people want to see what happens with the Midterms. If you want your Stocks to go down, I strongly suggest voting Democrat. They like the Venezuela financial model, High Taxes & Open Borders!
— Donald J. Trump (@realDonaldTrump) October 30, 2018
I really hate the fact he did this. The markets were set to bounce and now he spoiled it with weak man tweets. Markets want confidence now, not bitter trash talking. I suspect we might sell off a little more before the ship is steadied. Nasdaq futures are flat, but copper and WTI are lower by 1.5%.
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Prices were not yet to his liking. He has the power.
Two years ago you were a card carrying member of the Trump cult, fire hosing the Kool-Aid.
So STFU.