Thinking it will take a couple of months into the Trump administration to get a real sense of how things are going and for the markets to begin to deal with reality, whatever that is at the time. Markets may well move higher until then, closed above 19,000 TuesdayNov-22nd. In the meantime, I expect both the Chinese and the Russians to test Trumps lack of resolve in dealing with geopolitical events. I don't think the US should be an aggressor, but I also don't think they should not back down and be pushed around. Right now, there is one underlying factor that will help prices of gold&silver: “$150 trillion of global debt.”
Three near term events to watch/follow:
1) OPEC meeting on Nov 30...was wrong there it shot up and I chickened out by getting out of long oil, gasoline and NatGas.
2) Italian Referendum on Dec 4 - I was expecting No's to win and Renzi out and thought it would tank the market no BTFD just buy LoL.I'm guessing both Italy and France to exit the EU next.
3) FOMC mid December - Rate hike near certain..rates for 30yr mortgage went to 4.03% today(Wednesday).Anticipating FED's? Also the 3xETF for gas leading futures up?
So far, it seems, the markets have factored in all of the possible positives from a Trump presidency: Infrastructure spending, deregulation, lower taxes, repatriation of corporate overseas money. But the negatives still exist : increased national debt (bad for interest rates), higher rates (bad for housing and debt), higher US$ (bad for trade deficits), trade tariffs (bad for US growth), abolition of EPA and rejection of Paris Environmental accord (bad for environment), corporate stock buybacks and more dividends (bad for economic growth). And of course, there's the consumer indebtedness. Trump supporters excused some of his irrational campaign statements as rhetoric and something he would not actually do. I don't think so. We'll see. I also expect Trump to use his position for self enrichment. I expect he will end up being the most reviled president ever, and not all for what he did, but for what he inherited and was unable to do anything about., as would have been Clinton had she won...