THIS EXACTLY DEFINES OUT OF CONTROL GOVERNMENT NUT JOBS!

Everything you say, everything you do is watched over and regulated. No lessons being learned.

SOURCE: http://reason.com/blog/2018/01/25/california-bill-would-criminalize-restau

THE ECB

The ECB…amazingly AMAZINGLY, left rates the same…a negative .4%. And you want to know why markets do not pull back.  That’s a NEGATIVE .4%.

PRE MARKET

Very strong open and on earnings.

CAT up $5 Dow name.

MMM up $6 on numbers.

BIIB up $11 on numbers…breakaway gap.

LRCX up $9 gapping up to the old highs.

VAR up $10 on numbers.

PX up $5 on numbers.

XLNX up $2.50…another semi-name. SEMIS will have a strong day after weak day yesterday because of TXN.

UNP is down almost $5 on numbers.

A bunch more companies announcing bonuses, investments, philanthropy, wage increases.

Other notes:

OIL PRICES keep ticking up…oil stocks remain strong.

International markets are very strong…some emerging markets up 10% in past 5 weeks.

The dollar remains very weak with Mnuchin pouncing on it…saying weak dollar is good. We hate that yapping.The weak dollar has helped commodities.

BIOTECH recently broke out on 2 buyouts but now gets stronger off of BIIB action today. The company missed and numbers were not so great but market still likes them.

Markets remain stretched, extended and overbought as about as far as we have seen with a big dose of too much bullishness…but markets do not give a crap.

STARBUCKS JOINS THE PARTY!

SOURCE: http://www.washingtonexaminer.com/starbucks-cites-tax-reform-as-reason-for-raises-expanded-benefits-thousands-of-new-jobs/article/2646923

THE NFL- WHERE IS THEIR LOGIC?

SOURCE: http://www.foxnews.com/opinion/2018/01/22/nfl-rejects-veterans-groups-ad-urging-people-to-stand-for-anthem.html

CALIFORNIA GOVERNMENT…IT’S MEDICATION TIME PART 2

SOURCE: http://www.foxnews.com/us/2018/01/23/new-california-policy-opens-door-to-illegal-immigrant-voting.html

WE TOLD YOU…THE OUTCOME OF THE VOLATILITY AND A DROPPING BITCOIN PRICE

SOURCE: http://money.cnn.com/2018/01/24/technology/stripe-ends-bitcoin-payments/index.html?sr=twCNN012418stripe-ends-bitcoin-payments1005AMStory

CALIFORNIA GOVERNMENT…IT’S MEDICATION TIME!

SOURCE: https://www.westernjournal.com/california-lawmakers-introduce-bill-take-trump-tax-cut-savings-companies/

PRE MARKET

Sme themes playing out:

Dollar into more new lows today. Yields moving to new highs. HIGHER YIELDS BETTER FOR financials FOR NOW. Weaker dollar good for multinationals here as well as COMMODITIES. GOLD (GLD) on the verge of breaking out of big range. A few names looking to break out here also.

Earnings coming in nicely but more importantly, a decent amount of good reactions even though things are extended. yesterday was NFLX even though it pulled in a bit. Watch the stock for secondary buy points.

Remember FB gapping down last week. Got it all back in 2 days.

And then you have some en fuego in AMZN, GOOGL into earnings.

Futures up this morning…with so far, no selling in sight.

TXN is gapping down decently after a long run.