Uh Zandty...You forgot one thing: Add new fees to Wallstreet...effectively add transaction taxes/fees which will make HFT firms much less profitable. It will also hurt us discretionary traders.....just another cut in the profits. Get ready for it man...he's going after Wallstreet big time....to make up the deficit. Of course, he's not going to admit to that till AFTER the election. He's a slick SOB.
We continue to operate in new levels of insanity: https://www.marketwatch.com/story/t...ic-sweep-in-november-2020-08-14?mod=home-page At present, the stock market is behaving like a party of drunkards. The equivalent of alcohol is massive borrowing and money printing. Thus, the stock market is loving a potential Democratic sweep because Democrats will borrow more than Trump has. Prudent investors may be troubled. How would the borrowed money be paid back? Is there a limit to borrowing?
The reason Joe Biden is the nominee and not Bernie Sanders, the reason that President Obama and the entire Democratic establishment marshaled all their resources and power to crush the Sanders campaign and install Biden as the party's nominee is because they want and need to protect Wall Street from whom the vast majority of their donations flow. @vanzandt is absolutely correct: A Biden Administration, should such come to fruition, will change nothing other than it will bring professional management back to the Federal Government compared to the show that is currently being put on. If anything, Biden will be more Wall Street friendly. Taxes? Taxes are going up sooner than later no matter who wins. The tax train is coming is coming and its conductor is Fate and Fiscal Reality, not the GOP or the Democratic parties.
Did it slip everyone's mind that some provisions of Trump's 2017 super-great tax plan expire in early 2025? So if Trump wins in November, we might get a breather. Until early 2025. If Biden wins, we get less of a breather, and even more pain in early 2025. That is, of course, unless Trump sabotages the economy if he loses in 2020, which I think he will do. Anything to make his replacement look bad as compared to him.
NQ is up everyday. Why would anyone short this market that only goes up? if you buy the /nq you are guarantee to make $
Told ya so. How's that saying go? "Great minds...." _______________________________________________________________ Buffett's Berkshire buys gold miner Barrick, slashes Wells Fargo and JPMorgan, dumps Goldman stake amid coronavirus Published: Aug. 14, 2020 at 5:24 p.m. ET Warren Buffett's Berkshire Hathaway Inc. BRK.A, -0.58% BRK.B, -0.48% unloaded more than a quarter of its stake in Wells Fargo & Co. WFC, +1.11% and about 61% of its position in JPMorgan Chase JPM, +0.03%, while acquiring a new position in Barrick Gold Corp. GOLD, -0.55%, according to 13F filings with the Securities and Exchange Commission for the period ended Jun 30, that were released Friday afternoon. Berkshire's moves appeared to reflect a broad lightening of the conglomerates exposure to large-capitalization banks during the worst public health crisis in generations. Berkshire sold 85.6 million shares of Wells Fargo, representing about 26% of its stake and putting its ownership to about 3% from 5.3%. The insurance conglomerate also shed 35.5 million shares of JPMorgan, 61% of its position. _____________________________________________ XLF is only up $0.70 since we started this whole thing. Watch out below Monday.
Try it. I got stung pretty bad when I last bought it for a long term "make money by entering anywhere"-type trade, and it dropped 2700 points in a few weeks. And since it has happened before, it will happen again. The big question of the again is WHEN?
Is 'ubiquity' a word? I guess it is, spell-check didn't underline it. Its the ubiquity of posts like this on ET that should give one reason for pause. (I mean the one you quoted) That said.... who knows. Trade what you see I guess.