I had been saying for some time to sell into any relief rally that would follow a Clinton victory and buy any plunge on the back of a Trump win.
In a sign of how quickly markets react to events and then move on, as we saw with Brexit last June, the Dow Jones Industrial Average slumped 700 points in the overnight market, to only then rally back to post a surge of nearly 300 points for the day. An epic 1,000 point swing higher on a day when all we got were words and platitudes — no bailout, no TARP, no TALF, no intermeeting Fed rate cut.
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