maybe the pullback will be bought. I know I've been wrong about pullback being bought all the time recently so it only proves we stuck in a range.
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That was Glencore Trading. A couple of weeks ago they were in the news for selling interests in their world wide storage tank network. Some saw that as a sign that the market was returning to normal, the smart money getting out of storage.
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"We think that would not be prudent over the next two to three weeks given the recent geopolitical developments and related tail risks. These geopolitical risks are primarily related to an escalation of tensions with Russia and North Korea, and the upcoming French elections. Before the US elections, Trump campaigned on a platform focused on domestic issues (jobs, taxes, manufacturing). Following the failure of the ACA repeal and immigration bills, focus has unexpectedly shifted to foreign policy. Strikes on Syria, shortly followed by the dispatching of Carrier Strike Group 1 to North Korea, took many by surprise. These geopolitical developments create tail risks for equities as well as for the Trump administration’s domestic agenda."
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