SNAPCHAT going public today. If this was a company selling steel pipes, it would come out at 75% below the IPO value…seriously. 50x sales…not earnings…but 50x sales….massive losses and a recent slowdown in business does not thrill…but glamour is glamour and social media is glamour. Just remember one word…TWITTER. If Snapchat can pull a Facebook…
Futures down a wee bit but after yesterday, no biggie. We remain amazed how since the election, there hasn’t even been a 2% drawdown. The combination of the surprise election, a ton of cash on the sideline and the potential for tax cuts, regulatory relief and the continued monolithic easy money sloshing across the globe…has done…
Holy heck! Without being political, market loving the Trumpster. We don’t pretend to know why but we certainly know when we are seeing something. New highs for almost everything…and financials again lead the way as they move out also. And there is still a ton of cash on the sidelines. New highs beget new highs…until…
SNAP loses lots of money. Business has been slowing. If this was a pipe company, it would be coming public at 1/4 of the price but it is not a pipe company. Valuation is out there but emotion is emotion and price is price. We shall see tomorrow. SOURCE: http://www.foxbusiness.com/markets/2017/03/01/snap-to-price-long-awaited-ipo-amid-signs-brisk-demand.html
SOURCE: http://nypost.com/2017/02/28/jamie-dimon-trump-wont-get-tax-reform-done-this-year/
Futures up nicely coming off of President Trump’s address to the nation. This occurs often as the nation comes together (hopefully) for at least a day. All major indices remain above support and moving averages. Until that changes, market gets benefit of the doubt. Blow up du jour: Palo Alto Networks (PANW) down a whopping…
Stocks fell on Tuesday as the world waited for President Trump to deliver his first official speech to Congress. Economic news was mixed. The second reading on Q4 2016 GDP came in at 1.9%, missing estimates for 2.1%. The S&P Corelogic Case-Shiller Home Price Index came in at 0.9%, beating estimates for 0.7%. Elsewhere, Chicago PMI…
Market Update: Stock futures are quiet ahead of Tuesday’s open as the market continues to flirt with record highs. Gary’s Thoughts: Very quiet but lots of jello moving on the plate. Really watching the biotechs here after yesterday’s move. Tonight, the new president speaks. Economic Calendar: GDP 8:30 AM ET International Trade in Goods 8:30…
Stocks were relatively quiet on Monday as the world waited for President Trump to address Congress. Over the weekend, Warren Buffett said he was still bullish on U.S. stocks and said America’s best days are ahead of us. Elsewhere, David Tepper, billionaire hedge fund manager, said he’s still long stocks and short bonds. In economic news,…
