After Friday's debacle, the blood is in the water. It's clear from today's short-covering rally that this era's late cycle Big Short is to bet against all things Trump...
Fresh off his shellacking last week at the hands of his own party, Trump is at it again today, this time at EPA headquarters rolling back Obama's Climate Change policies.
Trump signed the order in a ceremony at the headquarters of the Environmental Protection Agency (EPA). He was flanked by coal miners — whom EPA Administrator Scott Pruitt joked “might never have been to the EPA before” — as well as cabinet officials and Vice President Mike Pence, who celebrated the executive order as a repudiation of the Obama administration's climate agenda.
"I cannot tell you how many jobs the executive order is going to create but I can tell you that it provides confidence in this administration’s commitment to the coal industry," Kentucky Coal Association president Tyler White told Reuters.
I'll go with not too many, for everything, Alex...
Westmoreland coal
Today's gain: .75%
Frackers up ~2% on the latest Imperial Announcement from Circus Clownius...
Natural Gas, ready for another leg down...
"And all that he touched turned to a pile of shit"
e.g. Financials:
Dollar short-covering...
Kiss goodbye:
Construction/Infra stocks:
USDJPY
Today's rally visible by microscope...
U.S. Oil ETF
Yesterday I said that gamblers were hiding in the Nasdaq. Well, as long as Apple doesn't roll over, this will all be fine...
The next leg down for banks will be painful. We know that much...
