Wednesday Rally – Trump Promises More Chickens in More Pots

What a fantastic speech! 

Well, not really but for the low bar we set for President Trump, it was a good speech although I, like many Americans, was put off a bit by Trump's shameless use of the Widow of Ryan Owens (the guy who died on Trump's first mission) as a prop to push forth his agenda.  As noted by the liberal media:

"What Trump did with Carryn Owens was not presidential at all; it was obscene. He authorized an attack that killed her husband, tweeted during the raid, shifted the blame for said raid, unapologetically milked her husband's story for applause, and then proceeded to brag about the size of applause from the story. Please stop lowering the bar for this man."

?"When you lose a $75 million airplane and, more importantly, an American life is lost … I don't believe you can call it a success," Senator John McCain told NBC News in early February.

Image result for trump ryan owensSome are accusing Trump of political posturing as Owens' father has been calling for an investigation into the botched mission that killed his son.  This was a big, political grandstanding play that will either diffuse the situation or blow up in Trump's face (most likely when a reporter next week asks Trump the name of the guy he said the nation would never forget).  Other than that, the speech was forgettable but it did manage to promise something to everyone – and that seems to be enough to take us, yet again, to record highs.  

Fortunately, we put off making adjustments to our hedges yesterday but we'll sure be making them this morning as this is just getting silly.  How many times can the market rip higher on the same empty promises?  There were no specifics offered up yesterday and what few specifics we've seen, like the GOP Health Care Bill, are horrifying (see Monday's post).  

If you are a trader – you may…
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