Holy cow, the anti-Trump stocks are on the move.
We've got something going on today that shows you there could be a profitable backlash to something that makes Trump's agenda less successful.
It's a whole new ballgame for some stocks.
For example, the stocks that have been bludgeoned on a daily basis, the retailers that could be subject to a border tax, are rallying sharply today. I think that's because traders are betting that President Trump has so gaffed his shaky coalition that there's no way that tax can go through.
Today's the first day since Trump was elected that we see something he wants that could be stalled, and traders want to bet that it's dead in the water.
I think this is a premature bet. All the retailers that are rallying have gigantic Amazon (AMZN) pressure. It's been a pincer move against them where Amazon's strength and the potential border tax have combined to send them lower. (Amazon is part of TheStreet's Growth Seeker portfolio.)
A dead-on-arrival border tax is not a reason to buy, but it may be a reason not to sell. I am still stuck with the fundamentals that make me feel this is simply a relief rally and nothing more.
That said, it's happening and it is worth noting that it's the first time traders want to make a bet that Trump could fall flat on this portion of tax reform, or he may have to withdraw it as part of his overall tax agenda.