You did it!
Congratulations: you not only bought the dip, you took our advice and did your dip-buying in a decisive manner, pushing everything green (or damn near green) by lunchtime:
In all likelihood, markets were calmed by the fact that Donald Trump decided to eschew Twitter for official statements.
As noted earlier, the real risk here was Trump, not Kim.
“The overnight selloff in U.S. equities ignited by North Korea’s missile launch has mostly been erased, with traders citing the absence of stepped-up belligerence in President Donald Trump’s reaction that cleared the way for dip-buyers in the futures market,” Bloomberg notes, in a surreal-sounding assessment of the prevailing dynamic which centers around whether the President of United States will or won’t announce a nuclear strike in 140 characters complete with misspelled words and superfluous punctuation.
“The fact that Trump’s comment is a little bit moderating was helpful,” Donald Selkin, chief market strategist at Newbridge Securities Corp. in New York said.
Here’s Miller Tabak’s Matt Maley weighing in:
People are willing to buy the dip unless they see a really extreme escalation of events. What we’ve seen a lot this summer is the market taking a hit immediately following geopolitical headlines, and then bouncing back up. Probably people think that the markets will go back up and they want to participate. Safe havens like gold lost some of their advance from earlier today.
There you go. And if you need a little extra reassurance, look no further than the following clip which depicts Trump, white USA-emblazoned trucker hat in tow, explaining that “we’ll see” what happens next:
— ABC News Politics (@ABCPolitics) August 29, 2017
a little morning inspiration for all the XIV-addicts… pic.twitter.com/AerEL3WVa1
— Walter White (@heisenbergrpt) August 29, 2017