Saturday, November 19, 2016

SATURDAY 11/19/16

SPX 2182. INDU 18868. COMPQ 5322. RUT 1316. NIKK 17967. SPASX200 5359. KOSPI 1975. SSEC 3193. HSI 22344. BSE 26150. DAX 10665. CAC 4504. FTSE 6776. MIB 16266. IBEX 8622. PSI 4420.

Lawyers representing Donald Trump reach a settlement in the Trump University lawsuit that plaintiffs allege was nothing more than a money-making scheme. Trump will pay $25 million so the people ripped-off will receive about one-half of their money back. Trump will not have to 

[Text is redacted. Purchase the 2016-11 chronology to enjoy November's economic and market history.]

The pundits on the Fox News business block of television shows remain optimistic and bullish on the stock market. Charles Payne brags about his stock picks this year and says SNA, TSCO and SWKS are the next tickers that will rally strongly. Ben Stein sticks to his bullish guns advising folks to buy the spiders or diamonds ETF’s, SPY or DIA, respectively, and hold for the long term. SPY is at 219 and DIA at 189. When pondering the long term, however, any professional trader will recite the Keynes notable quote, “in the long run we are all dead.” Pundits are telling Ma and Pa to go into the stock market now when a multi-year top may be printing. Talking heads may be sending Aunt Edna and Uncle Johnny into a buzzsaw.

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