It is good for stocks.
Trump is speaking on Long Island, NY and commented that:
- Congress should have approved healthcare but "well get it done"
- Let Obamacare implode.
The pattern shows that each setback, whether it be healthcare, or tax reform, or infrastructure spending, or just basic White House turmoil (i.e., Bannon, Sessions, Comey, The Mooch, Spicey, Kellyanne), has a negative impact on stocks, but then the prices go higher and higher as sellers - looking for the "big one" (i.e. selloff) are forced to buy shorts/hedges back and/or the traders and fund managers who are not keeping up with a 10.3% S&P or 18.41% Nasdaq return, are forced to double up to catch up. It is their jobs after all.
I suspect or hope that Obamacare does not implode, but in a perverse way, people who have insurance, who have a stock portfolio (in the right stocks) are not really impacted, and loving the gains as a result of all the turmoil. Bizarre but that is the pattern.
PS. the S&P is down -5 points now. The Nasdaq which was down -44 points is only down -7 now. It is like an up day (without being up).
