What’s all the whining and complaining about?

I am utterly amazed at the whining and complaining about the questions asked during the debate last night…especially about the questions to Donald Trump. What should have Megyn Kelly asked? Mr. Trump, boxers or briefs? Chocolate of vanilla ice cream? Mets or Yankees? The fact is Donald Trump has said some of those things about women and if he wasn’t asked last night, he would have certainly been asked down the road. The socialist party has been effective with their  mantra of “the Republican war on women” so the question would have eventually come up. The fact is Megyn Kelly did Donald Trump a favor. Megyn Kelly gave Donald Trump a lay up. Just answer the question!

This is not an election for homecoming king and queen. It is an election for the leader of the free world, arguably, the most important presidential election ever. After watching Bush create $5 trillion of debt and after watching Obama create $7 trillion with more time to go, we need some serious people in the White House going forward. After watching Bush mishandle the Iraq war and when finally righted, watch Obama destroy all the gains leading to Isis,  this is no time for the meek and mild. This country needs toughness. It is no place for wussies. If someone does not want to answer the toughest of questions, take a powder. This country cannot afford another socialist and corruptionist (just made up that word) in the White House and unfortunately, the Republican opponent will most likely be just that in Hillary Clinton. It is a must that the Republican candidate is ready as the national media will surely lie on its back, put their paws in the air, wag their tongues and bow down to Hillary regardless of lack of talent, lies, corruption and everything else she represents. Wake up you wussies. The Fox News moderators get an A+ for doing what they were paid to do…hold the candidates feet to the fire.

 

Moving up sharply in rank:

Carly Fiorina-smoooothe and serious.

Marco Rubio-shows he will be around to the end.

John Kasich-To the point!

 

Moving up in rank:

Ben Carson- Best close!

Chris Christie- Ain’t going away.

Scott Walker- Do not under-rate him.

 

Staying put:

Jeb Bush- But needed to do better.

Rick Perry- Something still missing!

Mike Huckabee- About what was expected.

Bobby Jindal- Where’s the ooomph?

 

Did not stand out:

George Pataki- Could play center for the Knicks!

Ric Santorum- Likeable but…

 

Heading lower:

Rand Paul…get rid of the smirking! Not impressed at all with demeanor!

 

Pleasantly surprised but doesn’t matter:

Jim Gilmore

 

Sounded like he was talking from a freezer:

Lindsey Graham

 

Oh yeah…the Donald…he continues to touch nerves the most which means he will continue to be front and center. He took the most fire and still breathes.

 

 

 

 

Kerplunk Goes the Market!

Kerplunk:

The object: try not to lose your marbles. A long-time favorite, Ker-Plunk takes a steady hand, as you skillfully remove the sticks from the marble-filled tube. A clear plastic tube is filled with marbles, which are supported by crisscrossing sticks inserted through the tube. Each player takes a turn removing a stick from the tube, trying to dislodge as few marbles as possible. As the game progresses and fewer sticks remain, it gets harder to keep the marbles from going ker-plunk! Play continues until all the marbles have fallen. The player with the fewest marbles in his compartment wins! For two to four players.

Kerplunk, the stock market…it’s all the same. Well, almost. Kerplunk is a game, The stock market is about your hard earned dollars.

In the stock market, think of the marbles as the major indices. Think of the sticks as all the sectors and all the stocks that make up the market. As more and more sticks are pulled, the less marbles (leadership) are left until it all (the indices) come down.

This is the exact process we have been telling you about for weeks and months. To be blunt, more sticks are being pulled and more marbles are falling. Just in the past week or so, the market has lost the almighty Apple, lost Disney (both stocks in the Dow), lost the whole media complex on the Disney cable news and now we are starting to lose the biotechs and the glamour leadership that has held up so well. All that is left is the financials and they are close.

It is also instructive that money has been flowing into the recession-resistant, defensive areas like food, drugs, beverage, tobacco and household products. WHEN THE MARKET GETS DEFENSIVE, IT GOES DEFENSIVE.

We have outlined vital and important support levels for the major indices. We are getting to the point where you had better be watching closely as the topping part of the process is getting late in the game. After the topping comes the downtrend.

Keep in mind, if markets cave, there will be no chance of a “ceremonial” rate hike by the maniacs at the fed and if things get real icky, expect some noise out of one or two fedheads about QE4. Not kidding! That may or may not help things.

We will have our usual award winning, over-the-top weekend market report for you on Sunday.

What are the key election issues for Millennials? @FoxBusiness

http://video.foxbusiness.com/v/4402852491001/what-are-the-key-election-issues-for-millennials/?intcmp=bigtopmarketfeaturesside&playlist_id=937116503001#sp=show-clips

Are Zombie Foreclosures Killing the Neighborhood? @FoxBusiness

http://www.foxbusiness.com/industries/2015/08/06/are-zombie-foreclosures-killing-neighborhood/?intcmp=bigtopmarketfeaturesside

Apple Music Attracts More Than 11 Million Trial Members Since June 30

http://www.foxbusiness.com/industries/2015/08/06/apple-music-attracts-more-than-11-million-trial-members-since-june-30/?intcmp=marketfeatures

Required Reading Of The Day

Stocks Drop on Media Meltdown – WSJ

Wages At Center of Rate Hike Drama – Fox Business

Cord-Cutting Weighs on Pay TV  – WSJ

Oil Prices Fall to Multi-Month Lows – Fox Business

Ackman’s Investment Is Latest Jolt for Mondelez – WSJ

How a Debate Can Kill a Campaign – WSJ

Guest Post: Market Looks Toppy and A Closer Look At The Dow

By Adam Sarhan, Contributor, SarhanCapital.com

Market Looks Toppy and A Closer Look At The Dow

The market is getting weaker, not stronger. We are continuing to see more and more deterioration occurring as the major indices look toppy up here. The tape continues to break down. The bull market is over 6.5 years old and that is considered an aging bull by normal historical measures. Notwithstanding more easy money from the Fed and other central banks, a break of support will add to the misery.

A Look At The Dow

The Dow Jones Industrial Average is comprised of 30 blue chip stocks. The Dow is down for the year and continues to under-perform its peers. The reason is simple: Most stocks in the Dow are not acting well and more continue to roll over. Right now, there are only 7 strong acting stocks in the Dow and 23 that are either range bound or are in a clear downtrend. That’s not a bullish equation.

There Are Only 7 stocks in the Dow That Are In Good Technical Shape

1.            HD- Remains perched below 52-week highs

2.           JPM – Needs to breakout

3.           MCD – At the higher end of range- needs to breakout above $101.10

4.           NKE – Extended remains a very strong stock

5.           PFE – Negating latest breakout but remains strong on a relative basis

6.           UNH – Looks good as it trades just below resistance of its multi-month trading range

7.            V- Very strong and remains extended

 

23 Stocks Are Either Range Bound Or Not Acting Well:

  1. AAPL
  2. AXP
  3. BA
  4. CAT
  5. CSCO
  6. CVX
  7. DD
  8. DIS
  9. GE
  10. GS
  11. KO
  12. IBM
  13. INTC
  14.  JNJ
  15. MMM
  16. MRK
  17. MSFT
  18. NKE
  19. PG
  20. UTX
  21. VZ
  22. WMT
  23. XOM

Bottom Line:

The writing is on the wall for a classic topping process. If support breaks, odds favor lower prices will follow. Conversely, if the bulls show up (enter bullish catalyst that emerges) we are only a few percentage points below record highs and could easily breakout of this year-long trading range. We remain open for any outcome but the evidence is suggesting the market is getting weaker, not stronger.