Markets do indeed move based on political reasons as well as fundamentals, and what have you.
by Bob Rinear
The International Forecaster
When you’re a market “pundit” you’re supposed to talk about the market. But when you have an election of this importance lurking, talking about that election makes a lot of sense. Why? Because markets do indeed move based on political reasons as well as fundamentals, and what have you.
In the past couple weeks, the media, the market wizards and many others have not only flipped course on the winner of the election, they’ve also flipped on “who’s better for the market.” This astounds me greatly.
Maybe someone slipped me some magic mushrooms and I’ve been tripping for the past 4 years, but may I ask a question? What was the DOW trading at on Nov 4th 2016? My historicals show 17,888. Then by February of this year, it was at 29,415.