“We have companies — the greatest in the world, and they’re doing really well,” Trump told reporters at the White House on Tuesday. “They have record kinds of numbers. So I think it’s a tremendous opportunity to buy. Really a great opportunity to buy.”
Trump Doesn’t Buy Stocks
Please consider this amusing Politifact flashback from September 15, 2016: Donald Trump says he doesn’t invest in the stock market.
Donald Trump raised eyebrows during an interview with CNBC when he said that Federal Reserve Board chair Janet Yellen — a Senate-confirmed appointee who is supposed to run the central bank independently — is “obviously political and doing what (President Barack) Obama wants her to do.”
Trump then suggested that the long, post-recession run of low interest rates, currently overseen by Yellen, is creating a “false market” with “essentially free” money.
“I don’t invest in the stock market,” Trump continued during the Sept. 12, 2016, interview. “And I think you saw the stocks I bought, and I bought a lot of stock, and I am not a stock market guy, and I bought it because I did not use borrowed money when I invested.”
This exchange was somewhat rambling — and the Trump campaign did not respond to a request to elaborate for this article — but Trump appears to be saying that he was once invested in the stock market but doesn’t do so today. When he says, “I don’t invest in the stock market,” he’s using the present tense.
Not a Stock Guy
Is trump a “stock guy” or not a stock guy? Or does he just want everyone else to be stock guys and gals.
Apparently he was once a stock guy as long as money was free, but then again, he was complaing about free money under Yellen, so why wan’t he a stock guy then?
No one really knows since he frequently talks nonsense while contradicting himself.
Amazingly, most of his supporters still cling to all this “art of the deal” nonsense. I voted for him, but I don’t.
Merry Christmas
Meanwhile, there’s something I forgot to say.
Merry Christmas!
— Donald J. Trump (@realDonaldTrump) December 25, 2018
I hope everyone, even the Fake News Media, is having a great Christmas! Our Country is doing very well. We are securing our Borders, making great new Trade Deals, and bringing our Troops Back Home. We are finally putting America First. MERRY CHRISTMAS! #MAGA
— Donald J. Trump (@realDonaldTrump) December 25, 2018
Mike “Mish” Shedlock
His cult followers are buying with two hands today but let’s see how it goes in the coming weeks. The Plunge Protection Team is probably buying everything they see.
And lo and behold, today the shorts aren’t just getting squeezed, they’re getting CRUSHED.
The PPT still has what it takes.
I’ve been trading short since Sept. and have 93% winning trades on the short side with the profitable value up 12X more than my losses. If shorts are getting squeezed/crushed, they must be the ones who do not know how to short. This has been one of the best short markets I have ever traded in (and I am still trading the short side until the market tells me to go long). Trump can blather on his nonsense and perhaps someone will do what he says but anyone who does is not a good trader.
To see what I mean, look at a monthly chart of say the DIA (ETF I trade on the DJI). The past month had the largest point spread (high/low) than any month in the past 20 years. With that volatile of a move, it doesn’t take a genius to follow the trend. If you trade with margin, you should never put yourself in a position to get squeezed with a one day move, that is extremely poor money management and moves like that will eventually wipe you out.
As for the notion that the PPT in government can move the markets in any manner other than short term is nonsense. Commercials and Large Specs dwarf anything the government can do. All .gov can do is try to make people feel warm and fuzzy that they will step in and try to talk up a weak market. It’s a confidence game. Where was the PPT in the bears of 2000-2001 and 2008-2009? If a 50% or more loss is “protecting” the markets then they are doing a piss poor job and they are a team of morons. Is that what constitutes “winning” or “protecting”?
Step right up folks and try to catch that falling piano.
If you miraculously do catch it, you get to keep it!
One thing most people don’t realize is the reason stocks have gone up for the last decade is because banks and insurance companies and state and local govts have to have it go up for their ponzi scheme. It has to keep going up regardless or the scam will fail. They hold the cards and can print money into infinity so who could say they won’t. If you look back at Bear Sterns it was after the midterms into the next year when hopefuls start showing their faces for elections in 2 years. Hmmmmm!!!!
And that is obviously part of “The Plan.”
The morons now in charge run everything into the ground and the people will BEG for a “New World Order” aka One World Government.
Soon our true rulers shall reveal themselves:
TRUMP labeled apartment buildings are removing his name because sales are tanking due to association with him. Celebrities are wary about being seen/photographed entering a Trump property.
This dance is almost over. His kids will be left to pick up the pieces of his businesses and try to glue them back together again.
Most of them looks like they’re headed for jail too.
I always thought that tariffs were used exclusively to support local over import, and at a cost to taxpayers via inflated prices. How does the government actually figure out how to generate revenue?? Mish is right, those two are clueless.
And the worse part is. All of this is giving credit to crypto’s and bitcoin in general…
I was LOL when I saw Trump on TV saying he thought that Powell was raising interest rates because the economy was so good [under Trump, there’s always a “ME” in anything Trump says].
If he had actually said, “Here are the companies I am buying tomorrow on the open. I am committing $100 million of my own money (which is a small amount because I am worth $10 Billion)”, I believe every person in America, every hedge fund and mutual fund and pension fund, would rush to buy tomorrow. Well, maybe not everyone, but some might. A few…maybe. Ok, a couple of his family members. Baron, of course; I’m sure he has some sort of trust fund doesn’t he? Melania too.
central bank money printers with their magical printing presses will crowd out everyone as the go all in buyin the dip!
Well, at least he is not threatening to bankrupt certain industries (like obama with coal), nationalize certain industries (like obama tried with healthcare) and bailout out certain industries to rescue big donors (like obama with GM/UAW).
You certainly have a very selective outrage button.
And Mish – do you think anyone takes DJT tweet about buying non-specific American companies as serious investment advice?
He could have been talking gold mining companies!!!!!