What’s So Bad About Saving 1,000 Jobs?

We are amazed at the White House reaction and we are amazed by the left’s reaction to Trump’s saving of 1,000 Carrier jobs in Indiana. What is the matter with these people. Did they not see the video of the employees when they were told they would lose their jobs? Did they not see the reaction? We understand the “everything is politics” reaction by both the left and the right but this is ridiculous.

The left says they were bought off using taxpayer dollars. Since when has the left given a crap about the taxpayer? They have sat silent while $9 trillion of new debt blew up under Obama. For us, there is no downside to what happened. Frankly, we believe there is only upside as Carrier’s action may set a precedent for other companies to follow. We are already hearing rumblings that Apple may start manufacturing phones here in the U.S.

We watched some of these employees interviewed today. All were thankful and all let out a deep sigh of relief. We would have loved to see one of these imbeciles on the left debating one of these employees. That would have been great tv.

We are not the greatest fans of  Trump. We have highlighted our issues here and on radio. But he is now President-elect and will give him every chance to be great and do great. We did the same thing for President Obama but unfortunately, only a week or two after gaining power, he fibbed and proposed the $800 billion stimulus…this just a few weeks after stating he wanted to cut debt in half.

The Closing Look

Stocks opened higher on Wednesday but closed mixed to mostly lower on the last trading day of the month. The big move to the upside came after oil prices spiked. OPEC cut production by 1.2 million barrels a day to help end the record supply glut. Economic data was mixed. Mortgage Applications plunged 9.4% while the refinance index plunged -16% as rates continue to move higher. ADP, the country’s largest private payrolls company, said U.S. employers added 216,000 new jobs last month, easily beating estimates for a gain of 160,000. Chicago PMI rose  to 57.6, beating estimates for 52. Elsewhere, Pending Home Sales rose 0.1%, missing estimates for a gain of 0.8%. The Fed’s Beige Book showed economic growth continued to improve across most of the country.

Gary’s Thoughts: Since radio show had glitches, here is the elongated “what we would have said!” OILS OILS OILS…on OPEC cuts…OIH,XLE,XOP broke out of bases which means a bunch of names broke out of bases. Keep in mind, oils are tricky. A few days ago, they were breaking out and then were dumped. This one looks for real but if OPEC backtracks…

Also, financials another good day as well as economically sensitive stuff…BUT ON THE OTHER HAND, and to repeat, we would avoid, reits, utilities, food,drugs,beverages,tobacco,household products, bonds, a bunch of medical stuff, a bunch of biotech and the big cap internet/tech leaders of past. You know the names.  Would also note the weak close and the very weak nasdaq/ndx today.

Samsung Electronics Is Heading for a Split?

 

http://bloom.bg/2fNBsJC

US seeing modest to moderate growth in most regions of the country, Fed’s Beige Book shows

http://www.cnbc.com/2016/11/30/bank-stocks-rise-nearly-19-percent-on-pace-for-their-best-month-in-history.html

Elliott Management Takes $1.4 Billion Stake In Cognizant, Says Shares Worth At Least 50% More

http://www.forbes.com/sites/antoinegara/2016/11/28/elliott-management-takes-1-4-billion-stake-in-cognizant-says-shares-worth-at-least-50-more/#5a3fe1435553

GoPro To Cut 15% Of Workforce, Shutter Entertainment Division $GPRO

http://www.forbes.com/sites/laurengensler/2016/11/30/gopro-job-cuts-restructuring/#2e3c73013a2d