Poised again!

We get accused of being too negative every now and then. We get it. Our commentary on Washington DC as well as central banks would lead one to believe that. But when it comes to the markets, regardless of how we feel about the apparent negatives outside of the market, we believe the markets rule at all times. We say this because there are many others like us that believe Washington and the central banks are nuts. Many believe they are the problem…not the solution. But those same people let these feelings get in the way of the markets instead of interpreting the markets. Regardless of what you hear from us on all that, it is important to listen closely to what we say on markets because the fact is, while we have been bearish on more than half the market, we have been bullish on the other half. On top of that, major indices have done nothing wrong. Notwithstanding the transports and those sectors that are in bear shape, the major indices have just been sitting tight. There is nothing wrong with sitting tight especially after an uptrend. It just may be “the pause that refreshes!” Time will tell.

As we walk in today, we have another gap…this time to the upside as blah blah blah on Greece pervades the air. We have told you forever that Greece will never pay off their debt but also that the can would continue to be kicked down the road forever…so no biggie. The main driver remains the easiest monetary policy since the beginning of time…and we know that is not going to change.

We would love to see major indices break out to the upside here as that simply brings along many playable names with it.

Required Reading Of The Day

Congress approves bill to resume, overhaul NSA surveillance after lapse – Fox News

McCain Calls Obama’s Claims About U.S. Stature ‘Delusional’ Fox Business

Man Under Terror Watch Killed in Boston – WSJ

Biggest MasterCard Issuers Scuttled Deal on Target Data Breach – WSJ

J.P. Morgan Hangs Up on Voicemail – WSJ

Pimco Clients Pull $2.7 Billion From Total Return in May – Bloomberg

Hey Kerry, why not take a Delta flight and save the taxpayer a crapload?

SOURCE: http://www.dailymail.co.uk/news/article-3106197/John-Kerry-picked-C-17-plane-airport-Geneva-breaking-leg.html

Chart Of The Day: Don’t Worry, Debt Is A Good Thing Right?

Source: http://www.zerohedge.com/news/2015-02-23/biggest-problem-facing-world-today-9-countries-have-debt-gdp-over-300

Wish we had something new to say!

Another semiconductor buyout! Another day of sitting. More rumors of other buyouts. Yippee!

To be brief today:

Major indices remain in range with half the market still blah and the other half in gear. Transports finally had a decent bounce on Monday but that’s all it is so far.

We still worry about the one-sided trade, too much margin, too many ipos and secondaries, assinine biotech valuations and of course, the biggest bubble in history…THE BOND MARKET.

As we write this, futures down nicely as the Euro soars.

I will be appearing on Fox Business Network today in the 1-2 pm hour with Neil Cavuto on his new show Coast to Coast!




Greece, Creditors Trade Documents to Reach Deal

Source: http://www.foxbusiness.com/industries/2015/06/02/report-greece-creditors-trade-documents-to-reach-deal/?intcmp=bigtopmarketfeaturesside

Where Are the Cities with Good Job Markets and Affordable Housing?

It’s getting tougher to find good jobs in cities with affordable housing.

The online real estate database Zillow crunched numbers for job and wage growth alongside housing costs in the first quarter of 2015 to land on a “sweet spot” of affordable homes and healthy local economies.

Read more: http://blogs.wsj.com/economics/2015/06/01/where-are-the-cities-with-good-job-markets-and-affordable-housing/

U.S. Scrutinizes Conduct of Movie Theaters

AMC, Regal say Justice Department has asked for information in investigation

Regal Entertainment Group and AMC Entertainment Holdings Inc., the nation’s two largest movie theater chains, have received formal inquiries from the Justice Department’s Antitrust Division, signaling growing government scrutiny of a tactic large theater operators commonly use to keep movies out of competing locations.

AMC, which has faced the most backlash in the exhibition industry over the practices, told investors the Justice Department wants information “in connection with an investigation,” according to an AMC notice filed with the Securities and Exchange Commission on Monday, into “potentially anticompetitive conduct” at the company.

Regal made a similar disclosure on Monday.

Read more: http://www.wsj.com/articles/justice-department-investigates-theater-clearance-practices-at-amc-1433171433?mod=trending_now_1