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11Nov2016 Market Close: Wall Street Ran Out Of Steam, Closing Mixed, Gold Down, US Dollar Up, Indicators Remain Bullish

Written by Gary

Markets closed mixed (SPY -0.1% Vs. $DJI +0.2%), WTI crude closed down -3.2% and the US dollar closed up +0.3%. Gold took the largest plunge of -3.5% after a rally following Trump's victory ran out of steam today, pressuring energy, materials and healthcare stocks.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall Street rally sputters in Dow's best week since 2011

(Reuters) - A rally following Donald Trump's victory in the U.S. presidential election ran out of steam on Friday, pressuring energy, materials and healthcare stocks.

Limited repeal of Dodd-Frank seen under Trump: WSJ

WASHINGTON (Reuters) - The Trump administration is eyeing a more limited repeal of the 2010 Dodd Frank law, despite the Republican president-elect's campaign promise for a full repeal of the financial overhaul, the Wall Street Journal said on Friday, citing unnamed sources.

After Trump win, critic Buffett sees strong stocks, trade hurdles

WASHINGTON (Reuters) - Billionaire investor Warren Buffett defended the stock market's strength and raised doubts about President-elect Donald Trump's trade agenda in a CNN interview broadcast on Friday, just days after the U.S. election.

Case 'quite strong' for gradual rate rises, Fed monitoring markets: Fischer

SANTIAGO (Reuters) - U.S. economic growth prospects appear strong enough for the Federal Reserve to proceed with gradual interest rate rises but the central bank is monitoring an increase in long-term U.S. government borrowing costs, Fed Vice Chair Stanley Fischer said on Friday.

Facebook to stop ethnicity-based targeting for some ads

(Reuters) - Facebook Inc said on Friday it would no longer allow certain advertisers to exclude racial or ethnic groups when placing ads on its service, following criticism that the practice was discriminatory.

IMF board renews $250 billion crisis fund for another five years

WASHINGTON (Reuters) - The International Monetary Fund said on Friday its executive board approved the renewal of its $250 billion crisis lending fund, the New Arrangements to Borrow, for another five-year period starting Nov. 17.

Peru says TPP can be replaced with new trade deal, sans U.S.

LIMA (Reuters) - Peru President Pedro Pablo Kuczynski told Russian media that Pacific-rim countries can forge a new trade deal that includes China to replace the U.S.-led TPP that U.S. President-elect Donald Trump has vowed to scrap.

Twitter outperforms on ads for BuzzFeed's election livestream

(Reuters) - Twitter said it was able to deliver more viewers than promised to advertisers on an election night livestream, good news for the microblogging site as it tries to ward off growing competition for ad dollars from Snapchat and Instagram.

Two major Russian banks say hit by cyber attacks

MOSCOW (Reuters) - Two of Russia's largest banks, Sberbank and Alfa Bank, say they have been hit by cyber attacks in recent days.

Trump Triumph Sparks Dow's Best Week In 5 Years As Currencies Crash, Bonds Blow-Up, & Commodities Carnage

A Trump victory has seen the world sell commodities, sell bonds, sell credit, sell foreign exchange, sell gold, buy dollars and buy US banks.

Turmoil has rotated around the world's maket this week... Wednesday saw a developed market bond bloodbath, Thursday saw EM FX and bonds collapse, and Friday saw Commodities clubbed like a baby seal

And even in The Dow itself, just 4 stocks accounted for half the post-Trump gains (GS, CAT, JPM, HD)

The divergence between The Dow's gain and Nasdaq's loss is the biggest since Lehman...

"Most Shorted" stocks are up almost 11% in the last 6 days - the biggest short-squeeze since July 2013...


Memo To Trump: "Action This Day!"

Submitted by Patrick Buchanan via,

"In victory, magnanimity!" said Winston Churchill.

Donald Trump should be magnanimous and gracious toward those whom he defeated this week, but his first duty is to keep faith with those who put their faith in him.

The protests, riots and violence that have attended his triumph in city after city should only serve to steel his resolve.

As for promptings that he "reach out" and "reassure" those upset by his victory, and trim or temper his agenda to pacify them, Trump should reject the poisoned chalice. This is the same old con.

Trump should take as models the Democrats FDR and LBJ.

Franklin Roosevelt, who had savaged Herbert Hoover as a big spender, launched his own New Deal in his first 100 days.

History now hails his initiative and resolve.

Lyndon Johnson exploited his landslide over Barry Goldwater in 1964 to erect his Great Society in 1965: the Voting Rights Act, Medicare and Medicaid. He compromised on nothing, and got it all.

Even those who turned on him for Vietnam still celebrate his domestic achievements.

President Nixon's great regret was that he did not bomb Hanoi and mine Haiphong in 1969 — instead of waiting until 1972 — and bring the Vietnam War to an earlier end and with fewer U.S. casualties.

Nixon's decision not to inflame the social and political crisis of the '60s by rolling back the Great Society bought him nothing. He was rewarded with media-backed mass demonstrations in 1969 to break his presidency and bring about an American defeat in Vietnam.

"Action this day!" was the scribbled command of Prime Minister Churchill on his notepads in World War II. This should be the motto of the first month ...

What Happens Next?

Are stocks still cheap?

Stocks and Bonds (closed today with TSY Futs unch) now have the same yield for the first time since Jan 5th

Bond-like stocks or stock-like bonds?

The "Buy and Hold" narrative spewed by every asset-gatherer and commission-taker is perhaps far better understood as "buy and hold on tight" as the following chart shows, for many, equity exposure is simply inappropriate (or too scary)!

Simply put, it's not the 'volatility' that people see as risk... it's
the drawdown, and as SocGen's chart above shows that drawdown is
practically impossible to bear unless you are lucky, blind, or ignorant.

Add to that the fact that US valuations have seldom been more expensive...

In today's over-inflated, over-leveraged,
over-manipulated markets, why on earth would a rational person not be
prioritizing protecting their financial wealth?

Trump in Bid To Be Greatest American?

Via The Daily Bell

Trump Reopening 9/11, Reversing Rome, in Bid To B ...

Global Markets: Talking 'bout a Fiscal Revolution

Donald Trump's U.S. election victory has shattered assumptions in global markets. The potential change from monetary to fiscal stimulus and from free trade to reversing globalization upends nearly every belief held by investors.

iPhone Connection Brings a Big Toll for Qorvo

The chip maker's gross margins are expected to stay under pressure for a while.

Trump and China's Currency: A Dangerous Relationship for Markets

President-elect Trump's attitude toward China could have a huge impact on how Beijing manages the slow weakening of the yuan.

The Tell: Trump rally to be followed by 11% stock-market tumble, forecasts Tom DeMark

Prominent chart watcher Tom DeMark is predicting that stocks, which have rallied mightily following Donald Trump's win of the U.S. presidential election on Tuesday night, will peak over the next five sessions.

Market Extra: Trump happened: What it means for stocks, bonds, other markets

Here are some of the areas within capital markets that are most likely to be influenced or already have seen moves on the heels of Trump's victory of Democratic opponent Hillary Clinton.

Top Ten: Weekend Roundup: What Trump's victory means | Stocks helped or hurt by Trump | Why you should (or should not) move to Canada

Here are MarketWatch articles to read this weekend

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