2016 and the Election
I guess I believe that the coming Election in November is the primary underlying factor in this year’s markets. Today the so-called Wall Street Establishment feels pretty good. They seem to believe that the two candidates that will do the least to deal with inequality, Clinton and Rubio are in place to duel it out this fall and that Clinton will be the winner. I think they may be in for some surprises before this is all over.
Today we are reinstating some of our stock short positions that we lightened up on when the S&P index held the 1812 area a few days ago. While the rally to 1993 remains a possibility this is a nice pop. Today’s high so far is 1945 on the S&P.