PRE MARKET

Very quiet early.

GOLD/SILVER continue the yonking as DOLLAR strengthens off of Yellen blah blah blah.

TRANSPORTS really coming on as RAILS/TRUCKERS and other stuff on the move.

Industrial-types also on the move…some say because hurricane…some say just because.

More later!

THE CLOSE

New stuff hitting the screen.

The lagging TRANSPORTS maybe no longer lagging. Truckers, rails breaking out.

INDUSTRIAL-types…packaging, equipment, chemicals, machinery, construction and all that stuff. Many saying the reason being is the rebuilding after the hurricanes. We dont care why!

OILS continue with the better bid as oil prices continue higher. Actually seeing a few names into new yearly high ground. Keep in mind, most are closer to yearly lows.

On the other end…continued weakness in GOLD over past few…also includes SILVER.

UTILITIES break the 50 day.

CONSUMER STAPLES also not so good.

And RETAIL continues to be gross, with few exceptions. Latest disaster is BBBY.

As far as the Fed…blah blah blah blah blah.

PRE MARKET

All quiet this morning.

Prayers to Puerto Rico. Been there about a dozen times. Cannot imagine what 150 mph winds will do. Prayers also out to those affected by earthquake in Mexico. 7.1 is a biggie.

Toys R Us bankruptcy… Bad service, bad pricing, bad website combined with massive debt…will do the trick. This was a must as suppliers would not have supplied. 40% of business is at holiday time. Expect fewer stores. Expect combining Babys R Us into one store.

Trump speech!…I just love when pundits who worked in the Obama, Bush and Clinton administration criticize Trump for his rhetoric when we are here because of Obama, Bush and Clinton. Horrible deal by Clinton and nothing done by Bush and Obama. The past 3 presidents are at fault for letting North Korea obtain their arsenal…which has now fallen into Trump’s lap…not to mention the Iran giveaway. I do not call it the Iran deal because a deal means both sides got something. Hopefully, the Trump administration gets things right on this. Keeping fingers crossed.

FDX small gap to downside, BBBY big gap…wow…used to be a big leader, ADBE, WDC, GIS also gapping down.

PRE MARKET

We have power. Never thought I would appreciate lights and air conditioning so much. I want to thank Duke Energy for working their arses off as well as the contractors who came from other states to assist. What a massive job they have had. I saw a few people complain. How the hell do you complain when millions were out of power and there is just so many who can restore it? On top of that, many of the workers were also affected by the hurricanes. Unreal.

Futures up. Strong day yesterday

led by financials and semis. What can be wrong with that? Let me just say there remains a lot of doubt on the markets…which is kinda sorta amazing. Will have a complete report tonight as I am back to full strength.

Lastly, fed meeting this week. I love the fact that markets hardly follow any more. But gonna get interesting if central banks start selling their trillions of assets they have bought to raise asset prices. They had better do it slowly.

IN ONE REPORT, THE REASON I CANNOT TRUST MAINSTREAM MEDIA!

Under President Obama, depending on which abacus you use, about $8 trillion of new debt was foisted upon an unwary public. Some say it is closer to $9 trillion. Simply put, President Obama gets the championship belt on debt. We are now to the point where last year, total interest on everything paid by taxpayers was over $450 BILLION because of all the debt created as well as all the programs created. Funny, I don’t remember hearing one person in the mainstream media report on this.  But there is a new sheriff in town so guess what is reported? I would like to say I was making this up but I am not. To repeat, after not reporting the massive build-up of debt under President Obama and with the media blacking out any news of the debt as well as the ultimate screwing of the tax payer, this is what gets reported today. All of a sudden, the tax payer matters. Just click on the picture!

 

PRE MARKET NOTES

Still no power at the Kaltbaum abode…but not complaining…as long as the Giants win tonight. ETA for power was supposed to be last night, maybe today…maybe tomorrow. I know Duke Energy people are working their asses off so will just deal with it. We are the lucky ones as sooo many have lost their homes.

Futures up a wee bit.

Forgot to mention machinery, rails and “stuff” like that on the move. We are 100% sure this is hurricane reconstruction-related and remains to be seen wether the moves last. Keep that in mind.

Again, the big story last week was the move in the SEMICONDUCTORS (SOX) which are so important to the market. Seeing a few upgrades and target raises in the group this morning. It always puzzles  me when an analyst misses a 100% move…then upgrades the stock…AND THE MARKET ACTUALLY LISTENS TO THAT ANALYST. Welcome to an easy money market. There is very little chance of market trouble if the SEMIS are moving out. Just scan the SOX going back the past 20 years and you will see what I am talking about. Very rare they have NOT led market.