1…………> Market Report 12/21/2017, sell stop 24,600, CG(-60), 11/22/16
Short position closed at 23560, for a loss of 60 DIA points, with a new position long 23560, sell stop 24600 for a spectacular gain of 1040 DIA points.
Stock market old timers have said that “you buy the rumor, and sell the news”, and that is exactly what is happening right now, with Democrats screaming murder as a close look at the new tax bill indicates that states like California and New York who have been leading the fight to dethrone or impeach Trump may be in for a nasty surprise with the mortgage deduction for state and local taxes set at only $10,000 per return, leaving millions of mansions above $500,000 with a hefty uptick in mortgage payment, a sure prelude to a crash.
We warned that it appears there is organized attempt to remove President Trump from office and if this activity is not curtailed soon, market will open on gap below 20,000 with next stop 17300 and 11800 support levels.
Stocks up 55 to 24783, DJ futures at +41.
Gold up to 1269.6 and USD/CHF up to 0.9884 due to tax bill passage. Translation? As the dollar goes down, we have to wait and see if the new Fed Chair Jerome Powell will continue pressuring gold and the Eurasian block with it down below $1000/oz in an economic WW3. Watch sell stop at 24,600. We have to wait and see if new Fed chair Powell will attempts to destroy Eurasian block by sending gold prices below 1000, despite the fact both Russia and China have been buying their whole gold production in local gold backed currency instead of money printing machines. In other words, US has lost controls of the precious metals complex, and with Trump’s infrastructure and tax cut campaign the National debt will soon be at, or over 30 trillion dollars, since D.C. swamp alligators have no intention dropping their pet projects. Read “Ziban Must Die” for more details on the coming collision of Trump’s administration with “Deep State” operators funded by the billionaires supporters of the New World Disorder.
2…………> Cut The Crap: Government Funding
By a vote of 231-188 with Democrats criticizing the opposition of using a third stopgap bill since the year’s Oct. 1 start, the Republican-led House narrowly passed a temporary spending bill to avert a government shutdown, allocating $2.1 billion that pays for veterans to seek care outside the VA; a temporary fix to ensure states facing shortfalls won’t have to purge children from the childcare program, and a short-term extension for an expiring overseas wiretapping program aimed at tracking terrorists.
Congress will return in January facing insurmountable challenges on immigration, the federal budget, health care and national security along with legislation to increase the government’s authority to borrow money.
3…………> Tax Cuts: Lets Spend
As the Republicans get closer to signing tax reform into law, a whopping 80% of taxpayers should receive a tax cut, averaging about $2,100, with refunds as a percentage of after-tax income that would benefit the higher-income groups the most. In addition, about 5% of taxpayers should expect to see their taxes increase by the same amount in 2018, and that rate will rise to 9% in 2025 and 53% in 2027 compared with the current law, according to experts.
Still, a bundle of money is coming your way one way or another and a spending wave may raise sales and earnings before leveling due to raising interest rates once the new Fed chair takes over in February 2018.
4…………>Eternal Patrol: 104 Years Later
The first Allied and Royal Australian Navy submarine HMAS AE1 with 35 crew members on board that was lost in World War I has been finally found after a 103-year search off the coast of Papua New Guinea.
“Australia’s oldest naval mystery has been solved,” Defence Minister Marise Payne said.
“It was … a significant tragedy felt by our nation and our allies,” when it went missing off the coast of the Duke of York Islands on September 1914.
5…………> Sessions Hound Dogs: Fox Clinton
Following pressure from President Trump and his congressional allies, AG Jeff Sessions said he would consider appointing a new special counsel to investigate Clinton’s “Uranium One” outrage, the crooked deal that allowed Bill, Hillary Clinton & Co to sell 25% of US uranium to Comrade Putin. In addition, the bogus dossier created and paid for by DNC will be also investigated.
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