May

17

 The investigation of Iran-Contra diminished Reagan's authority with Congress and killed the second tax rate cuts.  This time the  appointment of a special counsel has saved a Republican President from himself.  The language of Mueller's mandate is to investigate "any links and/or coordination between the Russian government and individuals associated with the campaign of President Donald Trump; and…any matters that arose or may arise directly from the investigation."  Those "any matters" are far more likely to be questions into the FBI's own conduct and those of the Obama DOJ than recordings of Trump plotting with Putin.  The delicious irony of all this is that a career civil servant, not the Republican Congress, has forced the President to return to trade and taxes and Israel and China even as the Democrats celebrate and convince themselves into that "the Russian connection" will be their winning issue for 2018.

We in the bleachers are doubling down on our U.S. Common stock longs.

Ralph Vince writes:

I'm with you Stefan. It's still a bull market, you have a volume bar buy signal tomorrow (a very short term thing) at any point lower than today's low (or for any of the next couple of subsequent days).

I may take some heat on it, but that's what must be done.

Shields up and let's go.


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