I had actually been concerned about whether I’d be able to cover shorts effectively this week, assuming the bullish Santa seasonal, contrarian bullish sentiment backdrop and a Fed whispering sweet nothings to the market all converge to ramp the market. Well, the Tweeter-in-chief may have helped in that regard.
A relatively calm pre-market just got less calm and for a stock market right at critical support that is not a good thing. Luckily, inflammatory new items and the utterings of an inflammatory president usually only make for knee jerk reactions, assuming that his tweet had something to do with it.
I responded thusly. Not that he or anyone close to him would see or care about a tweet by little old me, but…
The Fed is 76% likely (according to CME Futures traders) to hike the rate on Wednesday. It just does not feel like good karma for Trump to be in there pressuring them.
It would make them look like fools to just acquiesce to the bully pulpit. Trump should leave well enough alone and let the Fed subtly manipulate the situation as they see fit. They are better at it than he and his sledgehammer are.
Subscribe to NFTRH Premium (monthly at USD $33.50 or a 14% discounted yearly at USD $345.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas, all archived/posted at the site and delivered to your inbox.
You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar and get even more by joining our free eLetter. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.