Stock futures have been creeping higher all night long, and about an hour ago, they put on their turbo-boosters.
It seems there’s one and only one reason for this, and it’s the anticipation of a very asset-friendly administration being sworn in on Monday.
The actual “stuff” you can hold in your hand, like gold, silver, and crude oil (below) are slipping, while equities are positively giddy.
Most worrisome for any surviving bears out there is that, in recent months, the /NQ futures would top out and reverse for a while. This time, for the 4th time, it did indeed top out and reverse, but it’s putting in a powerful counter-trend rally, which didn’t happen in any of the prior instances.
I’ve been up since about 3 a.m., tossing and turning and wondering if it would make sense for me to go to all-cash and wait for the Trump Euphoria to slowly morph into the Trump Reality. I’m not sure how long this giddiness will continue, but it could be months.
