Why were there almost as many moderators as candidates? How is it possible they waited 83 minutes to ask about the Coronavirus and actually asked about sodas before that? When Sanders again complimented Castro but called Netanyahu a racist…where was the follow up on the facts? Did they even hear Sanders say he wants to give money to blacks and Hispanics in order to sell marijuana? Not one follow up. And not one question, we repeat, not one question on UPWARD MOBILITY, HARD WORK, WEALTH, SUCCESS, FAILURE, SWEAT, TOIL, RUGGED INDIVIDUALISM, GROWTH, LEADERSHIP, THE GREATNESS OF THE AMERICAN PEOPLE, THE GREATNESS OF AMERICAN BUSINESS and so on. Moderators should be flexible. Moderators should react to the answers. Moderators should dig deeper. These moderators…a complete swing and a miss.
Sanders likes Castro…hates Netanyahu. Yes…the place in the Middle East where Jews, Muslims, Christians, whites, blacks, gay. straight…every race, every creed, every color…live together, work together, play together. Yes…the place where as you travel the highways, you see buildings with every major corporation with their names on the buildings. Israel, a miracle in the Middle East that has been overseen by Netanyahu for years but he is the racist but Castro taught literacy. Not a word of any of this from the moderators OR THE OTHER CANDIDATES. Not a word digging deeper into Sanders kissing up to Castro, Chavez, Maduro and the rest of that ilk. Another gigantic missed opportunity.
Sanders says he is not authoritarian and does not like authoritarians. Let’s see…higher taxes, massive taxes, financial transaction tax, the green new deal, 8% yearly wealth confiscation, shoving 150 million Americans off their health insurance, more regulations, more fees, more fines, more mandates, taking the profits away from companies, eradicating industries, breaking up industries. On video, calling for a 100% tax on anything above $1 million. On video calling for the state to take over industries. On video, praising every creep that have run countries and people into the ground…but not one follow-up question on any of this from moderators and no big swings by the others on stage on this obvious authoritarianism.
Biden…better but still gaffe prone. Better but feels like no separation. Better.
Bloomberg…much better…had to be much better. Still not doing what he should be doing on how he became such a great businessman. Continues to miss a gigantic opportunity by explaining how Sanders has lived off the tax payer his whole life while pissing all over the successful and wealthy while Bloomberg worked his tail off creating wealth, jobs, success, philanthropy. Quite a missed opportunity telling the young people that it is not terrible to strive for greatness. Wealth and success are not dirty words. But…nope!
Warren….acting like she is now running for VP under Sanders. The usual. Nothing different. 2 cent wealth tax. No…it’s 2% and no, you have raised the maximum to 6%. Moderators did not call her on this.
Buttigieg…fading in the backstretch…felt like was talking too much about others and not about himself. But a magnificent effort getting where he is.
Klobucher…no harm, no foul but just not resonating enough.
Steyer…amazing. Managed a $20 billion hedge fund…became wealthy and successful beyond all imagination but that all sucks.
As you can see, we concentrate on Sanders as he is the lead horse. But he is also the lead economic nightmare of epic proportions. His whole mantra is a con game doing a good job of convincing people success and wealth are corrupt and that your lot in life will only be better by him taking care of you while taking down others a few notches. They do not understand just yet that the reason Sanders rips success and wealth on a daily basis is because success and wealth are the enemy of people like Sanders. Success and wealth cannot be conned. Success and wealth run circles around people like Sanders who has never created a dime of wealth or a job.
Lots more to come as we move forward.
—-After telling you late last week that we thought things were changing…some very important thoughts as markets are bouncing this morning after a nice trashing yesterday:—-
—-Let the market be the guide. Let the intensive study every day of how many are working, what is working, how many above the 50 day, how many broke below the 50 day, how strong are the reactionary bounces, how weak are the reactionary bounces…be your guide. —-
—-A TON OF STUFF BROKE BELOW THE 50 DAY YESTERDAY. The DOW sharply through. The S&P less sharply through. The TRANSPORTS through the 200 day and never got going. The RUSSELL through sharply. Foreign ETFs like EEM, EFA, FXI, EWJ, IEMG and others have imploded. HIGH YIELD (HYG and JNK) broke through. Even the SOX has now dropped below the 50 day…and needs to be watched. Every time it has done this, it holds just underneath and eventually turns back up.The NASDAQ and NASDAQ 100 are still at or just above the 50 day but have come in hard off of the extended conditions that have been around for weeks. The XLK (technology) is the same. This is what had us selling a ton of stuff before the deluge. We knew things were frothy. We knew things were extended. We knew things like MSFT did “EIFFEL TOWER” moves after gliding higher. We just waited for that first ugly day off the highs. —-
—–In the last 50 minutes yesterday…after the markets were trying to bounce, the DOW dropped 277 points and the NASDAQ dropped 87 points. As of this second, we are not even getting that back this morning. BUT do not think for a second that if the market wanted to, it could rally a decent portion of the drop in the days ahead. Anything is possible especially with the president tweeting, saying he liked the market. Yes, the president is trying to prop up the market. AND Powell will not let markets drop so expecting a leak of another rate cut.—-
—-Back to stocks:—–
—–AMZN up $20 this morning but is down $175 in the past 3 days. TTD up $8 this morning but is down $40 in the past 3 days. MSFT up $2 this morning but is down $17 in the past 3 days. YOU GET THE HINT. Be careful about getting too excited about reactionary bounces.—–
——We have a list of everything that has held above the 50 day…all the strongest names. We also have a list of things that have dropped down to the 50 day. There is actually a tiny list of things that were up Monday. Keep in mind, this list is much much much lower than just 3 days ago.——
—–We just want to get the major trend right. We want to get the intermediate trend right. When there is no trend, we want to recognize that also. There is a decent chance the trend has changed…not 100% certainty but a chance and we do not want to fight it. We will get a much better idea in the days ahead.There is not much we take out of what we have seen except that everything sold in the past 2 weeks were great sells.—–
—–Lastly, the Knicks still suck!—–
On Thursday, we alerted you to an “uh oh” moment that was a possible change of complexion on our readings of the market. On Friday, we confirmed the change of complexion. We thought the massive move in the growth/high beta area was more than likely done. As we write this, DOW futures are down a juicy 740 points while the NDX futures are down a whopping 245. Of course, the numbers can change overnight.