After setting new all-time highs for what seems to be the better part of the past two weeks, stocks finally cooled off on Thursday as somebody, ostensibly, took profits.
But, was that a wise move, or with the Republican National Convention winding down, might this not be a wise time to double down, knowing that the status quo will want to put the best lipstick on its little piggies, making every effort to make Hillary Rodham Clinton the 45th president of the United States of America.
Hillary is obviously the choice of rich bankers and well-oiled politicians who wish for nothing more than another four years of free money from the Fed, insane public policy from the politicians, and more fleecing of the soon-to-be-defunct middle class.
It would appear that with the presidency in her sights, Mrs. Clinton, for all her obvious faults, may be the best thing for equity investors since the FASB eliminated mark-to-market accounting back in 2009.
At least until late October or whenever it appears that nothing can or will stop Mr. Trump from elevating his posture into the White House, the Fed and its many backers will want to keep stocks flying high in hopes that Mrs. Clinton can lay claim to a vigorous economy (which, of course, is pure fiction, and which she had absolutely nothing to do with making it so).
Back up the truck and buy this dip. We could be looking at Dow 20,000 before long.
Dow Jones Industrial Average
18,517.23, -77.80 (-0.42%)
5,073.90, -16.03 (-0.31%)
2,165.17, -7.85 (-0.36%)
10,758.62, -34.48 (-0.32%)