SOTU Tuesday – Trumped-Up Rally Continues

Everything is Awesome!

Well, that's what they want us to believe this evening as Trump gives his State of the Union message.  One year ago, Trump taled about the $8Tn the stock market gained during his first year in office and the S&P had run all the way up to 2,872 into his Jan 30th speech but then we collapsed back to 2,532 just a week later (2/9) and it took us until September to get back to where the BS pre-SOTU rally had taken us.  

Now we're at 2,724 so the market is down a couple of Trillion Dollars but has also ralled back 16% off the 2,346 low just 6 weeks ago in December and thank Trump it did or he'd have to be explaing how the State of the Stock Market was WORSE than when he took office.  But thanks to the Fed reversing course and the Administration telling us how AWESOME their trade talks with China are going and thanks to the economic data the Administration has released showing the Government Shutdown was GOOD for the economy – EVERYTHING IS AWSOME!

Of course, having actually seen the Lego Movie, I know that things were not, in fact Awesome but a brain-washed society that had fallen under an oppressive regime run by a TV-obsessed, orange-haired psychopath (relax, it was 2014 – no one was picking on Trump – it's just a very strange coincidence) and had to be saved by a girl who looked a lot like Alexandria Ocasio-Cortez who did all the work while some nobody got all the credit.  Again, coincidences…

Image result for hedgingStill, I would not go into today's end without hedges – just in case we have a repeat of last year and the great efforts to prop up the market end as soon as the President is done telling you how great things are.  Trump also bitched about Government Regulations and said it was ridiculous that we were once able to build the Empire State Building in one year and now it takes 10 years to get a road built but 5 people died
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