*Most indexes have just hit new highs.
*We respect the move. We will show why this may be one massive short squeeze more so than fundamentally driven.
*We expect fiscal policy to take time to benefit the economy. In the meantime higher rates, inflation, and trade risks can cap markets.
We did call the "Trump Rally" at 9:32 am on November 9th. We moved to the sidelines the next day. The rally needs to be respected. That said we think the rally is an unwinding of a massive short position taken overnight as investors started to smell a Trump win coming. We don't think the move is so fundamentally driven. We want to show why we think this is a short cover rally.
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