"James Comey’s testimony has been portrayed as the making or breaking of the current presidency. Total vindication or that Perry Mason moment when he tearfully breaks down under questioning, repudiates his opening statement and confesses all. No one listening in today is going to budge one inch in their appraisal of our state of affairs."
Former FX trader Richard Breslow is out with a cynical take on "Super Thursday."
Basically, he doesn't think there's going to be anything too "super" about it because your silly ass has forgotten that investing is about "employing steely rationality." What you've done, Breslow goes on to lament, is decided to adopt "that’s my story and I’m sticking with it," as a trading strategy.
He doesn't think that's very smart.
In short, it's not so much that what's going on today isn't important, but rather that you will invariably mute the market reaction with your steadfast refusal to trade on anything other than your unshakable conviction in whatever narrative it is you've decided to adopt. This dovetails nicely with Breslow's note from earlier this week (see here).
More below and do note that this one is pretty goddamn funny...
So, the eagerly anticipated Thursday has arrived. Waiting for bombshells, enlightenment or is it closure? Barring some black swan moment, you’re likely to be rewarded with none of the above. And it’s not that meaningful twists and turns can’t happen. Not even that consequential consequences won’t emerge. The problem is ours. No matte
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