Submitted by Eric Peters, CIO of One River Asset Management
“I have a better education than them, I'm smarter than them, I went to the best schools; they didn't. Much more beautiful house, much more beautiful apartment. Much more beautiful everything. And I'm president and they're not,” declared Trump at his Michigan MAGA rally, refusing to take profit on the trade.
You see, Mueller found him innocent of Russian collusion. And while the report stopped short of exonerating him for obstruction, Mueller’s overall ruling was an enormous windfall.
A typical trader would take at least some profit, selling into the euphoria, rising above it all, extending a hand to broaden his base.
“Trump is going to go full-animal on his political opponents now that he’s no longer in the shadow of Mueller’s investigation,” predicted Bannon, the President’s former Chief Strategist. Steve’s usually right.
And as Trump ordered OPEC to lower oil prices, his economic advisor Larry Kudlow and Federal Reserve nominee Stephen Moore called for an immediate 50bp interest rate cut from the Fed - desperate to fire up the economy heading into 2020.
“The Democrats have to now decide whether they will continue defrauding the public with ridiculous bullshit, partisan investigations or whether they will apologize to the American people and join us to rebuild our crumbling infrastructure and bring down the cost of health care and prescription drugs,” taunted Trump.
And as his MAGA crowd went wild, replacing “Lock Her Up” with “AOC Sucks”, Democrats entered the five stages of grief: denial comes first, followed by anger, bargaining, depression, acceptance. And naturally, it would be so much easier if the Dems could just take a loss.
But in today’s internecine conflict, with tribes fighting for absolute victory or utter defeat, no one seems willing to extend a hand, take a profit or a loss and move onward, upward, as The United States of America.