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Energy

The Trump Rally

For the third time in six months, markets reacted opposite to expectations.  First, it was Brexit.  Markets swooned after the unexpected vote.  That lasted for two days before markets shook off the surprise and headed higher.  Last month, when Trump won, the swoon lasted a whole 9 hours, and the tantrum ended just prior to the opening of U.S. markets.  On Sunday, December 4th, when Italy voted “no” on PM …Read More

Post-election market drama

Last Tuesday evening, while dining with family and business associates, I had one eye on the elections and the other on the Dow Jones Futures Index, a proxy for the Dow Jones Industrials (DJIA) in the non-trading hours. At one point, the futures were down 900 points, and I was drooling over the prospect of one of those quite rare buying opportunities produced by extreme market fear, irrationality and emotional distress. …Read More