Wednesday, February 1, 2017

Moving up again

Over the past several sessions since last Wednesday stocks have sold off some or have plateaued.  Not coincidentally there has been a rumor running around that federal tax and regulation action will be put off until 2018.  The dramatic reaction to some executive orders over the weekend may have had a slight effect on Monday as well.

Now, three events have taken place. 
-- First, the White House set forth a directive that two regulations would have to be rescinded for every new one established by the executive branch. 

-- Second, the President appointed for the Supreme Court a man who was approved unanimously by the US Senate for his current federal bench post. 

-- Lastly, this morning committee chairs took action and moved the President's Treasury Secretary (and likely Secretary of Health and Human Services as well) nominee forward over the obstructionist roadblock placed in his path by the other party.

The markets rallied out of the gate.

Was the upward move at the start due to the above or just a reaction to the two day selling that improved prices?  It doesn't matter, we stayed at 100% invested and are benefiting this morning.

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