The last week has been nothing short of shock-n-awe out of Washington D.C. since the May 9th firing of former FBI Director James Comey – officially for mishandling the Clinton email investigation during the elections. Democrats, who hated the former FBI director 6 months ago, contend Comey was fired to stifle the Russia investigation – while Trump asserts Comey assured him 3 times that he wasn’t part of it. Trump animatedly repeated this to Lester Holt on May 11th.
'I was going to fire Comey anyway.' More of @LesterHoltNBC one-on-one interview with President Trump tonight on @NBCNightlyNews. pic.twitter.com/LMHJ9lOLAr
— NBC BLK (@NBCBLK) May 11, 2017
Fast forward to the past 24 hours; a bombshell story from Fox5 D.C. on Seth Rich was followed just over an hour later by a story from the Washington Post claiming Trump shared classified Israeli intelligence with the Russians – news which was immediately disseminated throughout the MSM .
With the brand new “classified intel” story simmering throughout the MSM, the NYT reported yet another blockbuster today;
Unnamed “sources” allege that James Comey wrote a letter in February stating that Trump asked him to kill the investigation into former National Security Director Mike Flynn.
As both the classified intel story and Comey’s alleged letter began making waves, CNN’s Wolf Blitzer asked Senator Angus King (I-ME) if we are getting close to the possibility of impeachment, to which King responded yes.
Wolf Blitzer mentions impeachment based on hearsay report of Comey / Flynn letter. #ComeyMemo pic.twitter.com/G2TvkYMM3c
— ZeroPointNow (@ZeroPointNow) May 17, 2017
Futures aren’t happy!
As today’s talk of impeachment ramped into the evening, Dow futures wilted – off over 100 points and holding as of this writing.
Google search for the phrase impeachment:
Dow Futures:
Looks like our old friend volatility may be back
If so, Fly’s post from Sunday is all the more prescient.
If you enjoy the content at iBankCoin, please follow us on TwitterWith all of the ‘two scoops’ business bogging down the Trump administration, rumors swirling about him going postal on his entire staff, there is a very real threat to all of his economic stimulus program suggestions. As such, you should head into this week’s trade with EXTREME caution.
My models suggest waiting out until Friday, to see if the broader indices outperform risk off assets.
with the dow now over 20000, -100 points isn’t what it use to be.
This is not systemic risk. Banks and brokerages are not going under, oil is not headed to a 100 crushing the consumer.
It will take more than a political scandal to rock this Bull.
I’m sure President Pence agrees.
Everybody calm the fuck down. The only thing hysterical is the msm.
Let’s wait and see where the central Federal Reserve hedge fund is on this and whether it rescues the market with a quick injection of confetti; NOT!