Loading ...Posted Thursday, November 10, at 7:52 p.m.ET
U.S. stocks are headed much higher, impelled chiefly by better business conditions for everyone under a radically new Washington regime. Trump the supposed protectionist is about to rewrite the manual for trade agreements. Forget the high-tariff buzz — he’s going to do deals that everyone will see as win-win. And even before he flushes Obamacare down the toilet, deservedly so, a stroke of the Trump pen will significantly alleviate the crushing burden it has imposed on the small businesses that are the true engine of the U.S. economy.
It’s hard to imagine any individual taking on the press and winning. But Trump’s many detractors are about to be cowed into silence by his successes, and by that of a Congress that will finally be able to get things done. Speaking as a hitherto hardcore permabear, this is a rally you do not want to get in the way of. My minimum projection for the Dow Industrials over the near term, incidentally, is 19489 — exactly 682 points above Thursday’s close. The target should evince a tradable pullback. However, if the Indoos blow past it with barely a pause, that would put in play ‘Hidden Pivot’ targets as high as 21049.