No complaints!

No complaints just yet. Market is due for a little stall or pullback but no biggie as of yet. In fact, we love quieter markets after a move up and that is exactly what we are getting so far.

Our only other words are STAY WARM! We will have big market report over the weekend.

A three day conference on terrorism that does nothing to stop terrorism!

So the Prez is having a three day meeting on terrorism. But it has turned into nothing more than “why would they do such things?” We are sure we do not know of the meetings behind closed doors on what to do about the ever-growing Isis and their ever-growing list of death. We are somewhat happy that authorization for something has been asked for. But the perception is that they are more interested in figuring out what’s in these murderous bastard’s heads, in other words, while Isis expands, we are soft on terror. These animals do not discriminate. They kill everyone who do not agree. If you are a Jew, you are tortured, shot or beheaded. If you are gay, you get thrown off a roof. If you are a Coptic Christian, you get taken to the beach…and not for a swim but to be beheaded. If you are a journalist, you get beheaded or shot. If you are an American, Japanese, Jordanian…it does not matter. They kill their own on the spot for disagreeing.

We have heard the question posed before. If the Nazis were in power now and murdering millions of Jews, what would we do? Back then, there was no internet and no social media. Most did not know what was going on. Fast forward to today. These animals would want nothing more than another Holocaust. They would like nothing more than to eradicate not only Jews but also Christians…which gets you close to just about everyone. They would eradicate Muslims who disagree with that they do…and they flaunt it in plain sight. In plain sight, they are doing all this…yet we, the United States of America, the shining light, the country that stands for justice…does a few strikes and has a conference. Do you think Isis is trembling in their boots? Do you think they are trembling in their boots when a State Department spokeswomen states that getting them jobs would help? Hey…let’s just get them a Linkedin page.

Clint Eastwood was once asked in a Dirty Harry movie why he thought a certain criminal murdered others. He had a simple answer…”because he likes it!” Look no further than that. These murderous scumbags like murder, like executions and like that they are flaunting it while most sit back and relax. Instead of a three day conference on WHY…there should be a five minute minute phone call with many heads of state on HOW. And HOW means HOW we are going to rid the face of the earth of evil. Rid the face of the earth of people who wake up in the morning to kill or recruit others to kill. If not us…WHO?

We’ll be back to the markets tomorrow.

These areas should continue to be avoided!

2 Fridays ago, we told you we thought that bonds and the interest rate sensitive areas as well as gold and gold stocks should be avoided for now. We simply saw high volume drops from the highs or near the highs. Since, we have seen nothing but downside. At this juncture, bonds, utilities, reits and the gold complex are now oversold so a bounce is due…but the trend, at least for now, looks to be down.

Of course, those monies have moved into the major indices…which are now overbought near term. But the technicals have improved. As long as pullbacks remain controlled and rotational, the majors should be ok.

Greece is the word!

Full market report tonight but first Greece!

We love Greece. We have visited a few times. Some of the most beautiful places on the globe can be found there. Santorini, Mykonos, Corfu are bucket list places to visit but there is a lot of crap going on there and it is all about the bucks.

We remember the old line that if someone owes a little money to a bank, it is their problem but if someone owed a ton of money to a bank, it is the bank’s problem and that’s where things stand. The bank is the Eurozone and the number is over $300 billion. This is a gargantuan number considering the size of Greece. If Greece decides to shoot a certain finger back at the Eurozone, you would see massive write-downs as well as quick raises of capital. It would also open the potential for other debt-laden countries like Italy and Spain to do the same. Thus we think it is long odds for a default right now as no one wins. The problem is that all we will get is an extension of an extension and nothing more than more kicking the can down the road…which is ULTIMATELY not good. We capitalize the word ULTIMATELY because massive long run debts always end badly. Keep that in mind. And just remember, the great old U.S. of A is sitting on an $18 trillion debt time bomb that is being glossed over because of a rigged bond market, the printing of money and a media that hears no evil, sees no evil and speaks no evil as long as the great corrupt socialist is in power.

The bigger laugh is to hear the new head of Greece complaining there has been too much austerity. Yup…and the Knicks are going to win the NBA championship.

Breaking out!

Major indices have either edged above breakout levels or are about to from 11 week trading ranges. If successful and all evidence so far looks good, do not argue.

Remember, if the S&P 500 breaks out, that represents 500 names. If the NASDAQ 100 breaks out, that represents 100 names and so on.

As we have told you for ages, anything is possible. Breakouts do fail but breakouts for indices out of constructive patterns usually do not. And with other countries announcing negative interest rates and the printing of money to buy those bonds even though rates are negative, the easy money just gets easier. We still don’t understand why this is being done.

Just one more note in that oil prices are going to open above the first stairstep off the lows.

Weekend report is next.

Knicks are a horror show and now Carmelo is sitting for rest of the year. Way to go Phil Jackson!

 

This is one amazing story!

STORY: http://www.dailymail.co.uk/news/article-2951068/She-wanted-mom-did-Dog-Cissy-runs-away-home-travels-20-blocks-goes-inside-hospital-foyer-owner-recovering-cancer-surgery.html

And closer!

What do you know? Sweden’s Riksbank is now delving into the negative interest rates world and also announcing their own printing of money to…you guessed it…buy bonds. The question is why would anyone buy their own bonds that have negative yields? Simple. They are following the template of Bernanke and the rest thinking it will help. But all this does is inflate the bubble even more.

But enjoy the bubble. Embrace it…as now it looks like major indices will open at the tips of recent highs. As you know, a breakout above the 11 week trading range should not be fought with. We had all kinds of other thoughts this morning but they pale in comparison to more easy money and a market hopefully ready to move out.

Getting closer!

Major averages are now on the verge of going topside. We never jump the gun but with yesterday’s action, we are getting closer. There is nothing bad about a move above the range…as long as the move holds. Aren’t we geniuses?

The important part of yesterday’s action was the SEMIS. As you know, they are vital to our work along with the FINANCIALS. These areas simply have been great leaders of the market, both up and down. The SEMIS ramped well yesterday as they also now set up for potentially higher prices.

There is still a very short list of new highs but many names looking like the major indices. A break above for the indices should show many new names breaking out. Stay tuned!