Loading ...For a Brief Moment, Traders Seem to Be Imagining Baseball and Barbecues
The Trumpster sounded so hopeful at tonight’s briefing that one could almost believe it will be a summer of baseball, barbecues, fireworks, lawn concerts and kids’ birthdays with piñatas. If only. Still, traders are at least pretending that all of these staples of American life will be back before it’s too late. They’ve pushed index futures into a steep after-hours rally, every tick of it supported by short-covering from bears who evidently still believe economic reality should count for something. The rest of should enjoy this simulated state of exuberance while it lasts, since bear rallies are notorious for flaming out just when they start attracting true believers. For you chart-watchers, I’ve adjusted my rally target for uber-bellwether AAPL to 313.58, at which level new record highs of up to 347.27 would not be unthinkable.