What happened to yesterday’s report?

We forgot. We actually forgot to write our market notes yesterday. We would like to say we were in important meetings…or something kept us away from the desk. Nope. We just forgot.

Not much has changed. Even with the move out in range for a few major indices, other major indices remain range-bound. The DOW,S&P and the NYSE continue to sit underneath old highs. The only group we are seeing that is potentially emerging is HOUSING…but we are not there yet.

The most important outcome of recent trading continues to the good action in financials of all stripes as well as the move in biotech. If they continue to work, the market has very little chance of breaking down.

Since many are asking, Netflix 7 for 1 stock split is a good thing and not so good thing. The announcement will certainly juice the stock near term…but beware, quite often, large splits stop a stock dead in its tracks soon after. One may want to check out Mastercard (MA) after announcing its 10 for 1 split in 2014. Also keep in mind, these splits only happen after a good long run leaving the stock in a later stage position. In any case, pay attention to the action and everything else goes into the file manager.

Top 10 Largest U.S. Market Cap Companies

Wal-Mart, the world’s largest retailer, just got the boot from the Top 10 list of America’s most valuable companies. Taking its place, Facebook in what could be the start of a shakeup in the land of the U.S. market cap kings. Here is the current list of the 10 most powerful companies in the United States, according to market capitalization as of the close of trading on June 22:

Source: http://www.foxbusiness.com/industries/slideshow/2015/06/23/largest-us-market-cap-companies/?intcmp=bigtopmarketfeaturesside#slide=1

Spieth: You Have to Know How to Deal With Adversity

Source: http://www.bloomberg.com/news/videos/2015-06-23/spieth-dealing-with-adversity-at-golf-majors-key-to-wins

Gadgets: Amazon Echo ‘Siri in a Box’ is Finally Here

Source: http://www.foxbusiness.com/technology/2015/06/23/amazon-echo-siri-in-box-is-finally-here/?intcmp=bigtopmarketfeaturesside

Required Reading Of The Day

This Summer, How About a Workcation? WSJ 

Likely GDP Revision Bodes Well for 2nd Half Growth – Fox Business

Cheap Energy to Shake Up Pipeline Industry – WSJ

How Airbnb is More Valuable Than Big-Name Firms – Fox Business

Amazon to Remove Confederate Flag Items, Following eBay and Others – WSJ

Dick Van Patten, Star of ‘Eight Is Enough,’ Dies at 86 – WSJ

Google Gives Gmail Users the Ability to ‘Undo Send -WSJ

This from a guy running my Knicks into a 17-65 ground!

SOURCE: http://espn.go.com/new-york/nba/story/_/id/13134107/phil-jackson-new-york-knicks-criticizes-lebron-james-nba-offenses

This is CNN! Insanity!

And the goal of this stupidity is?

SOURCE: http://www.dailymail.co.uk/news/article-3136113/Shock-CNN-host-Don-Lemon-holds-huge-N-word-sign-live-TV-asks-Does-offend-you.html