The Comey-Trump enterprise is real. It's also oversold, and overly-discounting worst-case scenarios.
James Comey was quoted less during his tenure as FBI Director, than in the past four weeks since his firing. Through his record of previous testimony, hearsay relayed to media by his "friends," and statements by government officials, everyone has come to know Comey's position and perspective on everything.
One problem. Many of the quotes contradict each other.
An assertion made by others about Comey is that he requested extra funds to conduct his election tampering investigation of the Russians. False, according to Deputy Director Rod Rosenstein. Certainly, he'll be asked about this Thursday, but he certainly hasn't said anything publicly, yet.
Comey friends have asserted that he memorialized a meeting during which President Trump pressured him into backing off of General Flynn. False, according to Comey, himself. Between the alleged pressuring, and revelations about the alleged memo, Comey was asked in a public hearing whether anyone had every done any such thing. And he couldn't have been more definitive in his "no" answer.
More so, by all current reports, the quoting and paraphrasing of Trump was not a command. No head of an organization can be deprived of the freedom to express his opinion on any matter, let alone significant matters. Which is how all of Trump's alleged statements read.
There's more, but the point is made already. The Comey hearing will be rocky, with the usual grandstanding by Senators, and snarkery aimed at the President. Not that Trump isn't deserving of some. And not that Thursday's hearing has any chance of making life any iota better for him.
Before the hearings are one hour old, if Comey hasn't yet skewered Trump, then he won't. I expect a "relief rally" to ensue. Comey is highly motivated, having been ridiculed by Trump, who publicly called him a showboat to Lester Holt, and allegedly called him a nut job to the Russians. While the entire situation wreaks, the entire setup wreaks of being oversold, and overly discounting worst-case scenarios, many of which seem unlikely to develop at all.
Rod David develops analytical techniques that are designed to efficiently identify targets and turning points for any liquid stock or market in any time frame. He primarily analyzes S&Ps, generating several round-turn candidates daily. Rod publishes "Trading Plan" and more each session at the blog http://IfThenSignals.com.
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