2017-05-12

President Trump Fires FBI Director Comey, Markets Rally, Media Shocked!

Photo of the Charging Bull in New York City's Financial District by Sam valadi (CC BY 2.0)
UPDATE  May 15, 2017:  Trump's Bulls Charge, Bears Trapped!  The S&P 500 and the Nasdaq both closed at records Monday and the Dow industrials snapped a four-session losing streak to finish higher, the TRUMP Rally continues:
 NASDAQ Hits New All-Time High
https://www.google.com/search?q=DJIA
 SP500

Original post:
S&P 500 (5 day chart as of May 10, 2017)
Opinion and Analysis

Let’s look at the way US equity markets responded on Wednesday [May 10] to the Tuesday [May 9] news of President Trump firing FBI Director James Comey:
On Wednesday, the next day, the S&P 500 rallied 0.11% (see above chart), the NASDAQ was up 0.14%, and the CBOE VIX Index barely moved back over 10, to close at 10.2. In the words of one seasoned Wall Street analyst: "If you hadn’t read the headlines for 24 hours, you wouldn’t have known anything unusual had happened in Washington or anywhere else."
Conclusion: The media's 'Trump Derangement Syndrome'  so prevalent within the reality distortion field known as "Washington, D.C.," hasn't infected Wall Street (nor Main Street). Most Americans, thankfully, are immune and are either ignoring or laughing at the mainstream media circus which has now reached unprecedented proportions.

Bottomline: Comey should have been fired by Obama last year after the stunt Comey pulled in connection with the Clinton email investigation. The last thing the U.S. needs is another rogue FBI director like J. Edgar Hoover. Trump did the right thing in following the advice and recommendation (pdf) of the Deputy Attorney General and the Attorney General of the United States, respectively.

To the disbelief and dismay of the liberal media, the Dems and elitists, Trump owns this market and the Trump Bull Rally is still running on Wall Street:
Trump Rally(chart)
The TRUMP Rally
photo of President Donald J. Trump (source: WhiteHouse.gov)
Photo courtesy of WhiteHouse.gov
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