Thread – Excerpt from a Ross Rant (Election-related)
1. These following are excerpts from a recent “Ross Rant.” Joel Ross publishes these periodic reports that provide commentary on the changing scene with an eye toward wise future investments.
2.
There never was going to be a new stimulus deal. Pelosi did not want to do anything that might help Trump, and she was hoping to trap McConnell, and make him look like he killed it so they could argue the Dems need to control the Senate.
3. My sense is that backfired. It is clear to most that she is the problem, and why, and that she does not give a damn about the people who are suffering. It is all about getting power. Unfortunately, Wall St kept being fooled thinking there would be a deal.
4. So the market was up and down depending on which false rumor they believed. Classic Wall St. Buy on rumor and hope. Sell when it does not happen, then buy again. Trader’s dream.
5. The EU is now in the midst of a major virus surge and that will kill any hope of a near term economic rebound as lockdowns get put back on. While in the US there are a few stories of hospitals in rural areas getting to capacity, reality is, most of the US has lots of capacity.