Market Analysis 10-26-17
 


S&P 500 Resistance –  2560,   2575, 2605, 2655

S&P 500 Support –  2530,  2505,   2478,  2422, 2400, 2375, 2340

GE had their Internet of things conference today. Some good stuff. They have magic going on. 

The market pulled back and cut the loss in half by the close. Target 3200 remains.  Some said it was speculation on capping 401ks or this or that or  the other. It was time to take some profit. We will likely see some more to the downside and then a little consolidation and then the Christmas rally will kick in. 

Chipolte was hammered but they lost the narrative a long time ago. If you are in this one you best take a second look. They are not a growth story.

The ax has come out at Tesla and Solar City. It is estimated about 1200 at Solar City were given the pink slip. Without subsidies, Tesla is a loser as is Solar City.

Let's do Popcorn!

When you judge and malign another imagining they have been doing what you have been doing because you assume they do what you do then it always, always comes back to bite you on the ass. Every time! 

Enter Ms. Hillary. Bless her heart!

The Washington Post reported that the Democratic National Committee and the Clinton campaign jointly financed the creation of the infamous “Trump dossier," which helped inspire the launch of the floundering investigations into whether the Trump campaign colluded with the Russians.

Though neither the DNC nor the Clinton campaign worked directly with former British spy Christopher Steele as he compiled the document, the fact that Democrats funded the dossier, which includes information primarily gleaned from sources in Russia, ironically suggests the Democrats indirectly leveraged Russian sources to try and spread information of dubious veracity about a political opponent to try and sway an election.

ROTFLOL ass biting!

The Clinton campaign paid Perkins Coie, the law firm of Clinton superattorney Marc Elias, $5.6 million in legal fees from June 2015 to December 2016, according to campaign finance records, and the DNC paid the firm $3.6 million in “legal and compliance consulting’’ since Nov. 2015. Some of that money was presumably used to pay for the dossier.

Fusion GPS’s work researching Trump began during the Republican presidential primaries when an unidentified GOP donor reportedly hired the firm to dig into Trump’s background. The Republicans who were involved in the early stages of Fusion’s efforts have not yet been identified. Fusion GPS did not start off looking at Trump’s Russia ties, but quickly realized that those relationships would be a fruitful place to start, WaPo reported.

House Intelligence Committee Chairman Devin Dunes has tried to compel Fusion’s founders to disclose who paid for the dossier, but all three of them pled the fifth during public testimony last week. Nunes has also tried subpoenaing the firm’s bank records.

After the election, the FBI agreed to pay Steele to continue gathering intelligence about Trump and Russia, but the bureau pulled out of the arrangement after Steele was publicly identified in news reports. Officials also decided to withhold information from the dossier in an intelligence community report published in January alleging that Russian entities had tried to sway the US election on behalf of the Russian government.

We don’t know who leaked the dossier to Buzzfeed and CNN back in January. John McCain, one of the primary suspects, has repeatedly denied it, and Fusion GPS has said in court documents that it didn’t share the document with Buzzfeed. However, we do known that in early January, then FBI Director James B. Comey presented a two-page summary of Steele’s dossier to President Barack Obama and President-elect Trump.

It therefore strongly suggests that it was the FBI that was instrumental in spreading the dossier to the media, most of which was too embarrassed to publish it until Buzzfeed came along and did it.

So Hillary Clinton and the DNC paid to uncover and package dirt, whether factual or not, on Trump which eventually found its way in the Trump dossier

In doing so, the Clintons and the DNC were effectively collaborating with "deep" sources, both among the UK spy club and inside Russia

Once Trump won, the FBI was instrumental in "leaking" the dossier to the mainstream media and select still unknown recipients (the same way Comey "leaked" his personal notebooks just a few months later, following his termination, to launch a probe of Trump).

The former head of the FBI who was supposed to probe Clinton's State Department and the Clinton Foundation for a bribery and kickback scheme involving Russia’s U.S. nuclear business, is now investigating Trump for Russia collusion instead.

As Ken Vogel, formerly the chief investigative reporter at Politico and currently at the NY Times reported, "When I tried to report this story, Clinton campaign lawyer @marceelias pushed back vigorously, saying "You (or your sources) are wrong."

NYT reporter, Maggie Haberman, confirmed as much saying "Folks involved in funding this lied about it, and with sanctimony, for a year", and by folks she means Hillary Clinton herself.

In light of the latest news it suggests that Clinton was lying, which is not surprising, especially when considering the recent "revelations" that the Clintons may themselves have been involved in collusion with Russia over the infamous uranium deal.

Which brings us to the questionable role played by the FBI in all of this, and the role still being played by Robert Mueller. Here is the WSJ,

Let’s give plausible accounts of the known facts, then explain why demands that Robert Mueller recuse himself from the Russia investigation may not be the fanciful partisan grandstanding you imagine. 

Here’s a story consistent with what has been reported in the press—how reliably reported is uncertain. Democratic political opponents of Donald Trump financed a British former spook who spread money among contacts in Russia, who in turn over drinks solicited stories from their supposedly “connected” sources in Moscow. If these people were really connected in any meaningful sense, then they made sure the stories they spun were consistent with the interests of the regime, if not actually scripted by the regime. The resulting Trump dossier then became a factor in Obama administration decisions to launch an FBI counterintelligence investigation of the Trump campaign, and after the election to trumpet suspicions of Trump collusion with Russia. 

We know of a second, possibly even more consequential way the FBI was effectively a vehicle for Russian meddling in U.S. politics. Authoritative news reports say FBI chief James Comey’s intervention in the Hillary Clinton email matter was prompted by a Russian intelligence document that his colleagues suspected was a Russian plant. 

OK, Mr. Mueller was a former close colleague and leader but no longer part of the FBI when these events occurred. This may or may not make him a questionable person to lead a Russia-meddling investigation in which the FBI’s own actions are necessarily a concern.  But now we come to the Rosatom disclosures last week in The Hill, a newspaper that covers Congress. 

Here’s another story as plausible as we can make it based on credible reporting. After the Cold War, in its own interest, the U.S. wanted to build bridges to the Russian nuclear establishment. The Putin government, for national or commercial purposes, agreed and sought to expand its nuclear business in the U.S.

Clinton's own Russia collusion narrative which recently emerged to the surface and which as of today is being investigated by the House:

The purchase and consolidation of certain assets were facilitated by Canadian entrepreneurs who gave large sums to the Clinton Foundation, and perhaps arranged a Bill Clinton speech in Moscow for $500,000. A key transaction had to be approved by Hillary Clinton’s State Department.

 Now we learn that, before and during these transactions, the FBI had uncovered a bribery and kickback scheme involving Russia’s U.S. nuclear business, and also received reports of Russian officials seeking to curry favor through donations to the Clinton Foundation. 

This criminal activity was apparently not disclosed to agencies vetting the 2010 transfer of U.S. commercial nuclear assets to Russia. The FBI made no move to break up the scheme until long after the transaction closed. Only five years later, the Justice Department, in 2015, disclosed a plea deal with the Russian perpetrator so quietly that its significance was missed until The Hill reported on the FBI investigation last week.

As the WSJ correctly notes, "for anyone who cares to look, the real problem here is that the FBI itself is so thoroughly implicated in the Russia meddling story."

Which then shifts the focus to the person who was, and again is, in charge of it all: former FBI director, and current special prosecutor Robert Mueller:

The agency, when Mr. Mueller headed it, soft-pedaled an investigation highly embarrassing to Mrs. Clinton as well as the Obama Russia reset policy. More recently, if just one of two things is true—Russia sponsored the Trump Dossier, or Russian fake intelligence prompted Mr. Comey’s email intervention—then Russian operations, via their impact on the FBI, influenced and continue to influence our politics in a way far more consequential than any Facebook ad, the preoccupation of John McCain, who apparently cannot behold a mountain if there’s a molehill anywhere nearby.

Which means that Mr. Mueller has the means, motive and opportunity to obfuscate and distract from matters embarrassing to the FBI, while pleasing a large part of the political spectrum. He need only confine his focus to the flimsy, disingenuous but popular (with the media) accusation that the shambolic Trump campaign colluded with the Kremlin. 

Mr. Mueller’s tenure may not have bridged the two investigations, but James Comey’s, Rod Rosenstein’s , Andrew Weissmann’s , and Andrew McCabe’s did. Mr. Rosenstein appointed Mr. Mueller as special counsel. Mr. Weissmann now serves on Mr. Mueller’s team. Mr. McCabe remains deputy FBI director. All were involved in the nuclear racketeering matter and the Russia meddling matter.

TADA! Clintons and FBI ROTFLOL 

Now for the good old belly laugh!! Better grab some soda.

Following the revelations from the Washington Post with regard Hillary Clinton and the 'old' Democratic National Committee's financing of the infamous "Trump Dossier," the 'new' DNC rushed out a press release denying any involvement as Democrats begin rapidly distancing themselves from this un-fake news.

Chuck Grassley, the head of the Senate Judiciary Committee, is calling for the DOJ to appoint a special prosecutor to investigate the deal. The thinking is, presumably, if Deputy AG Rod Rosenstein felt comfortable appointing a prosecutor to dig into possible collusion between Russia and the Trump campaign, he should be equally comfortable appointing a prosecutor to investigate these serious allegations from the Obama era. "Whoever in DOJ is capable" of launching an investigation into Uranium One should go ahead and do so, Grassley tweeted.

House Intelligence Committee Chairman Devin Nunes said House Intel and the House Oversight and Government Reform Committees would be seeking to learn whether there was in fact an official FBI investigation into the Uranium One deal, and if so, why Congress wasn’t informed.

The chairmen of the House Judiciary and Oversight committees announced a joint investigation into the FBI’s handling of a probe into Clinton’s use of a private email server after emails showed earlier this month that former FBI Director James Comey drafted a letter exonerating Clinton before the investigation had been officially completed.

Comey and the FBI - the gift that keeps on giving LOL ROTFLOL 

More comedy! The Establishment LOL

Guys like Senator Flake can cry all they want and of course it is wonderful he is leaving. They are the establishment. Doesn't matter if they are Republican or Democrat. Their narrative is dead. They can leave and try to resurrect it all they want. That story is dead and it will not revive. 

The establishment that consisted of both sides has lost the narrative. They don't seem to get that yet but they will. As they leave it only helps Trump and the people so the people will rejoice as they leave. No one cares if they leave but if they want to act like others do care ok. They will learn otherwise just as Georgie and Pals are learning.

Let's catch up on Georgie!

Georgie is spending money on billboards across Hungary accusing his old friend who is the leader of that country of being a racist and promoting Goergie's political and globalists beliefs which, trust me, promote his pocketbook. He has put a lot of time and money into turning the world the way he wishes. LOL ROTFLOL guess someone forgot to tell him money isn't everything!

Hillary spent way more than Donald and who won? Yeah. People have laid down the law. No more. No more of this caca we must suffer because we are prosperous. We must go into a hole and raise others up.  The people are demanding to be recognized and so they want their nations back from the globalists.

We are one world and have always been one world and we have been trading globally forever. We just stopped buying the globalism story. All isms are traps and the people of the world want out of this one and they will win in the end. Doesn't matter how much time or money you have. They will win because they believe a new story. It's that simple.

It is all good and it always works out. Trump now has the love of the majority forever. He will fill the empty seats with populists. Small business will grow. He is doing a fantastic job trying to complete what Kennedy started. This is what they believe and so it shall be.

It is all good.

Take care,

Rita