Criminal conduct and a sitting president. Two things we never want to see in the same sentence but that is exactly what James Comey did and did without any sense of what it might mean for the legitimacy of the president of the United States.
None of us has any idea if there is criminal conduct, of course, and Comey never seems reluctant to talk about criminal conduct possibilities when it comes to anyone he is looking into as Hillary Clinton could tell you.
The source of this alleged criminal activity might be referred to in a story in the Washington Post today about Paul Manafort, a former top campaign aid who allegedly may have laundered payments from a disgraced ex-leader of Ukraine. It sounds like nasty stuff and it's causing a dual reaction.
The Democratic enemies of Trump are talking about impeachment. And the Republican enemies feel emboldened to pull the drain-the-swamp president into the swamp, especially after he threatened some lawmakers with the loss of their seats if they didn't play ball on repeal and replace of the dreaded Obamacare.
Now we have certainly been due for some sort of reaction to all of this news especially because the agenda of lower taxes and repatriation seems so far in the distance right now.
So I get the selloff.
But I would say this, many stocks that are going down today are not Trump stocks at all but companies with rock solid businesses -- we are buying several for ActionAlertsplus.com, where we have been waiting for political risk to put money to work.
I always figured that when we got it, people would freak out and dump stocks and that's what is happening. We knew the straight-up market would have to end and we did work off a recent oversold position.
But if you are like us with lots of cash on the sidelines waiting for the big down day we can't now wait for an even bigger down day.
You have to start somewhere as we are with a new airline name and a bigger technology position.
Okay, if the Democrats are right and we are going to hear talk of impeachment, you better believe Comey better come up with something soon or he will be revealed as reckless as he was with Clinton.
If he doesn't and the Republicans get it together, then there will be a strong reaction back.
If he says nothing and the Republicans just continue to give Trump a hard time I think that it just sets back the tax timetable but makes him even more aggressive on executive orders and deregulation.
I am not saying "win/win." Far from it.
I am saying that there are many companies doing incredibly well that are being shelled here and even if we go down double from here it isn't a bad idea to try to buy a little of some of your favorites that are finally coming in.