TRUMP IS HALF RIGHT ABOUT RICH GUYS BETTING AGAINST THE STOCK MARKET—HERE IS THE OTHER HALF $DIA $DJIA $AAPL $AMZN $MSFT $FB $GOOG $GOOGL
President Trump said Wednesday that “so-called ‘rich guys’” may be “speaking negatively” about the stock market to profit from its decline. Trump’s tweet came after billionaire investor Stanley Druckenmiller said the risk-reward relationship in stocks has never been worse. Trump didn’t identify Druckenmiller in his tweet, and there’s no evidence that the professional investor recently short-sold equities. Trump is only half right. Let’s explore this issue with the help of a chart. Chart Please click here for an annotated chart of the Dow Jones Industrial Average ETF DIA. Note the following: • The chart shows that the stock market opened below the resistance zone in May,