The Obama gun control announcement was a complete non-issue for gun manufacturers. The Executive Orders, the only part of this that I ever feared, was stuffed full of common sense, passive actions that no one was objecting to in the first place.
And Obama acknowledged (which is always half the battle with him) that any attempt to restrict magazine capacity or ban “assault weapons” (read “any gun that looks scary”) must start in the Legislature.
Reid and Boehner are just FIGHTING with each other over who gets to start that process…
Oh, wait no they’re both punting.
Meanwhile, Obama’s actions, surrounding himself with children like a 20th century totalitarian on crack, before announcing this set of soft measures, have fired up the gun owners and political operatives who haven’t quite worked out yet that this isn’t a big deal.
The gun buying craze, which is pre-empting future government action that probably isn’t coming, will run voraciously until it exhausts itself. And ironically, a push to try and reign in weapons will have inadvertently put a lot more of them into circulation.
On a pullback, I will consider adding back RGR to my portfolio. By this time next year, it will be making new highs.If you enjoy the content at iBankCoin, please follow us on Twitter