Tuesday, November 08, 2016

Market Bounce Already Priced In

Pick Your Poison

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Thank Jesus in heaven, this goddamned election is almost over.

While walking through downtown Palo Alto yesterday, I saw a man dressed up as Uncle Sam holding up a big handwritten sign that was obviously pro-Trump, anti-Hillary. I assure you, this is the first such thing I’ve seen in the Bay Area. Indeed, I haven’t seen one – – not ONE – – Trump sign in town. Even those who secretly support him are too afraid of being ostracized.

Another man was in Uncle Sam’s face, telling him with a smirk that violence is the only thing Trump supporters understood. I didn’t get close enough to hear what was going on, but they were arguing with one another at length. The whole thing made me sad for them, and sad for this once-proud country of ours.

This election between two totally shitball candidates – – one of them, an ungodly corrupt, amoral human who touts her lack of a dick as her principal qualification, and the other a hypersensitive megalomaniac man-child who fancies himself a genius businessman but simply is a grown-up rich kid – – is nothing short of embarrassing for this country. The next four years are going to suck. I wouldn’t be that surprised if we wind up with a president named “Timothy” before the year 2020.

Anyway, I’m not the sharpest knife in the drawer, but as I look at the chart of the ES below, I would say it’s just a touch more bearish than bullish. The Clinton victory is already priced in, just in case the record-setting liftoff in the market wasn’t clear to you yesterday, and once Obama buttons down this third term of his, the Herculean efforts to keep the fake equity circus artificially propped up are no longer necessary.
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