Over a year ago I argued to go long S&P as part of my trade recommendations for Trumpanomics. Today I am closing that trade. So, I bought the rumor, and am now selling the news of the passage of the Senate tax bill. While US equities will likely continue to rally, the asymmetry has gone as the S&P has rallied almost to my target. Fortunately, there is still plenty of asymmetry left in the other Trumpanomics trades as the Trump administration turns its focus to financial and energy reform.
