Or is it that some of the talk you hear from certain quarters is better described as just more political hand-wringing about how there can’t be much good going on under THIS president?

Well.

Here in the offices of DSWP, deciphering these matters is actually pretty important. Not only is it crucial to separate perception from reality, it is also important to know that even false perceptions, if shared by enough people, can in time create the next reality. If the naysayers can generate enough handwringing, they ultimately could create problems worthy of handwringing. And, it seems that in many cases that may well be their intent.

A case in point is Thursday’s Marketwatch.com column penned by Paul Brandus. He titled his piece thusly: “Trump won’t be removed from office — and that’s why the Trump Trade is over”.

It is tempting to regard his commentary as satire but…we would be wrong. He argues that Trump should be removed but the conniving Republicans are insufficiently motivated to do the deed.

Here’s what he wrote:

“…But the question is, what would it take for congressional Republicans to move against Trump? Mueller could deliver the goods, but it’s Congress that decides whether the president has committed “high crimes and misdemeanors” the standard for impeachment. Would they really move against a president from their own party? It would have to be something so indefensible and so stunning that they’d have no choice. I’m skeptical.”

Thinking that the reason for his skepticism was misplaced we still applaud it. But he then gave the game away; he doesn’t believe there is much of a legal position upon which to make the call:

 “Of course, impatient Democrats would impeach Trump now if they controlled the House. But on what grounds? Trump’s ignorant, immature, delusional and dishonest. But these things aren’t crimes. If they were, Washington, D.C. would be a real small town. As of now, there’s simply no proof—hard, verifiable proof—of anything. Even the ranking Democrat on the Senate Intelligence Committee, Virginia’s Mark Warner, admits there’s no smoking gun.”

So, while admitting there is no evidence of a crime upon which to base impeachment, he tells us that the primary reason for not having one is spineless Republicans.

Another thing that troubles me is his apparent belief that if the president were to be removed from office things would get better. Presumably, since he is writing in a finance publication, he means financial things would get better. We ask how? And why?

Try as I might, I cannot quite grasp the logic of his thinking. Also beyond my grasp is why a major media outlet like Marketwatch.com (owned by Newscorp) actually pays Mr. Brandus a salary to peddle this stuff.

Yes, the markets have slowed in their growth. And yes, initial jobless claims are no longer falling as fast as they were. But, markets nearly always move more slowly when they approach — and then exceed — new all-time highs; just what they happen to be doing in the current climate.

Likewise, as a mathematical reality, initial jobless claims will fall more slowly as the rate of unemployment drops to very small numbers. And, that is precisely what we are seeing. I suppose if one were looking for bad news on the doorstep one could worry over the June Consumer Confidence survey that dropped…to 94% positive. (It had been 97 in the previous month!)

Being a big supporter of our 1st Amendment, I defend anyone’s right to say and publish whatever they wish. However, I find it to be beyond shameful when a major financial media source allows itself to be hijacked by its own staff members who are more interested in pushing a narrative than informing their readers about things of true financial significance.

 

Market Minute 6/16/2017 – Market Shows New Index Highs – More Bullish Action

We can see negative headlines urging us to sell all stocks and run for the hills. We can argue about overbought conditions and a weak seasonal pattern. However, there is no way around it. The overall trend for the stock market is…up! Each of these major six indexes hit 52-week highs with the last six trading days: the equal weight S&P 500 Index*, the S&P 500*, S&P Midcap*, S&P Smallcap* and the Nasdaq 100* Indexes. Bottom line – no matter what the pundits say, we cannot forecast the length or the duration of a bull market. It will end when we get a signal that it has ended- and no sooner. Yes, there’s a lot of rotation going on, but enjoy the current and continuing bull market!

Ronald P. Denk, CFP®
Investment Advisor
Denk Strategic Wealth Partners
10000 N. 31st Avenue, Suite C-262
Phoenix, AZ 85051

Phone (602) 252-8700
Fax (602) 252-8701
Toll-Free (877) The-Denk
www.denkinvest.com

This weekly article reflects news, commentary, opinions, viewpoints, analyses and other information developed by Denk Strategic Wealth Partners and/or select but unaffiliated third parties. DSWP provides Market Information for illustrative and informational purposes only. If you wish to receive this weekly commentary by email please contact us at 602-252-8700 or by e-mail at info@denkinvest.com.

Ronald Denk is an Advisory Representative offering services through Denk Strategic Wealth Partners, A Registered Investment Advisor. He is also a Registered Representative, offering investments through Lincoln Financial Securities Corporation, Member FINRA/SIPC.

Denk Strategic Wealth Partners is not affiliated with Lincoln Financial Securities Corporation. Information in this commentary is the sole opinion of Denk Strategic Wealth Partners. Past performance is no guarantee of future returns. All market related investments involve various types of risk, which include but are not restricted to, credit risk, interest rate risk, volatility, going concern risk, and market risk.

The Update provides information of a general nature regarding legislative or other developments. None of the information contained herein is intended as legal advice or opinions relative to specific matters, facts, situations or issues. Additional facts, information or future developments may affect the subjects addressed in this document. You should consult with an attorney, accountant or DSWP planner about your particular circumstances before acting on any of this information because it may not be applicable to your situation.

Lincoln Financial Securities and Denk Strategic Wealth Partners and their representatives do not offer tax advice. Please see your tax professional regarding your individual needs.

*The indices are representative of domestic markets and include the average performance of groups of widely held common stocks. Individuals cannot invest directly in any index and unlike investments, indices do not incur management fees, charges, or expenses, therefore specific index returns will be higher. Past performance is not indicative of future results.

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