Trader's Daily Notebook: Don't Make Any Moves Based on Tax Talk

"It will be soon, very soon. It will be sweeping, it will be significant and it will create a lot of economic growth." -- Treasury Secretary Steven Mnuchin speaking about the Trump administration's tax reform plan 

Investors love tax cuts, or at least that's the general consensus. So when Treasury Secretary Steven Mnuchin said the Trump administration's tax plan would be both sweeping and significant, it's only natural that the same folks selling their stocks 24 hours earlier would turn around and buy them all back. At higher prices, no less. The icing on the cake seemed to be when Mnuchin went on to suggest "the plan will pay for itself with growth." All the gain without any of the pain. What a deal. ...691 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.