The wild swings of the past week continues as Monday received the upside of those swings. But it remains more important to look underneath the surface as the spit tape continues.
To be brief, we just wanted to highlight a few main areas to overweight and look for proper breaks to the upside are :
Just about anything medical/healthcare/biotech/managed care. A good number of names continue to show leadership with quite a few names moving out yesterday. Keep in mind, many names are extended here.
A bunch of retail areas: auto parts, department stores, discounters, drug stores, supermarkets, restaurants, home improvement.
Semiconductors…especially the bigger growth names.
We think there is more points to be put on the scoreboard in these areas as they continue to show no let up. At this juncture, pullbacks are preferable but never know if pullbacks show up.
We will have our normal in-depth market report over the weekend. We know yesterday was a good rebound day but something else is on our mind today.
Racists, racism, racist assclowns is still a problem. As a Jew, I know. I don’t dare publish some of the emails I receive. Maybe I should. But we are now all seeing a bigger problem…and that is using the few that are racists to shoot cops. Using the few to make hay…hear that Sharpton. Using the few to switch the conversation from cops being shot to justifications. For all this, we should all now worry that these, so far, isolated shootings of cops turns into something not so isolated. And then what?
What happens when our men and women in uniform no longer feel safe? What happens when they feel they have a target on their back? The specific problem is that the people that are running the country are not unequivocal in defending the people that defend us. President Obama is very good at coming out and saying the shootings are bad but also continues to use the “but” word. “But” I understand why people are upset…”but” I understand why. There should be no “buts” when it comes to the shootings of innocent men and women in uniforms just like there should be no “buts” when one does the wrong thing and harms an innocent civilian.
“Hands up, don’t shoot!” was a lie. A lie told by lieing witnesses which in turn was told by the usual ambulance chasing race hustlers and a lie then parroted by many…without the facts or any evidence in. It is amazing to see so many continue with these falsities even with the real truth in plain sight. Unfortunately, truth does not matter to those that want to score political points and make hay off of tragedies like this. They had better be careful what they wish for.
Very little to add. More yuck in a bunch of areas with the Euro continuing to crumble.
Major indices that had broken above range have now tucked back into range like frightened turtles. Stocks that broke out of range are doing the same. Bear market areas simply worsen.
The potential good news is that every time markets have corrected between 5-10%, pixie dust showed up and away we go again. The jury remains out on this corrective work.
Mayweather $120 million
Pacquiao $80 million
Ticket prices (secondary market…so far)
Worst seat in the house $4,800
Middle of the road seat $15,000
Best seats in the house $30,000-$100,000
PPV COST $89.95 $99.98 HD
Previous record PPV buyers 2.4 million Mayweather vs De La Hoya
Previous record PPV dollars $150 million Mayweather vs Alvarez
Live gate $40 million…previous record of $20 million
We expect this fight to take in up to $500 million as the price is higher, the face value for tickets are higher and the number of buys will be higher. If you don’t have a hotel room yet, expect serious sticker shock!