The Stock Market is on a nice run and I expect we will see new highs soon unless some political news hits the wires.
The Stock Market is +.25 % 30 min before the open with the only red I can see being TLT and Oil.
This is a positive premarket configuration.
Two big news items right now to keep a watch on. The OIG report will be out any day now. It keeps getting moved back, but I suspect we will see it this week.
This according to everything I have read will shed a log of light into the corruption of the highest levels of the FBI and DOJ.
Keep a watch on the Congressmen who play down the report. As they are the most likely complicit in what was going on. There will be both Democrats and Republicans criticiing this report.
The 2nd thing to watch is N Korea. Trump is having his meeting with the N Korean leader next week.
So 2 big news items on tap. Both have the potential to increase volatility in this market.
Right now I am long a portfolio of ETF, Bonds and a few equities. Most are primarily income-producing assets.
As far as swing trades the market is still overbought so until we get a pullback or a sufficient pause I will wait.
As an outsider looking at the one thing that stands out to me is the degree to which the mainstream media is against Trump.
Granted, he is a polarizing figure in that he is not a typical president. But still, the 24/7 bashing of Trump in what is supposed to be a neutral press is very concerning.
Oftentimes the stories are made up, with no factual basis. Even in publications like the New York Times you see this daily.
Also as equally concerning is the failure of Congress to note the problem and address it.
Certainly freedom of the press is a pillar of the U.S. society. But, at what point do they cross the line and abandon this freedom they have? It’s an interesting delemna that the U.S. faces. But one that needs to be addressed, along with the bias in social media.
The one sided nature of the mainstream media has caused havoc in the markets. There has been more than 1 time that a false story has sent the market plunging 300 pts. Then to find out the story was completely false.
That’s my 2 cents for this morning:)
By the way, we are +16.58 Units in MLB this season. Having a very solid season so far.
Good Luck Trading today
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