THE CLOSE AND PRE-MARKET
Yesterday…yuck…we would be watching:
The SEMIS…more than half the names we follow now trade below resistance and showing not so thrilling patterns. The SOX remains above the 50 day. There is a direct correlation between the SEMIS and the market.
Friday, 6/9 continues to weigh on our mind…as we asked the question that day…”changing of the guard!”
BIOTECHS tried to break out of range yesterday but pulled back in when the market was hit. BIOTECHS look like they can outperform here but if market gets hit more, not si sure. If markets just sit, think the BIOTECHS can get going. $300 area needs to hold for the IBB.
Futures up a wee bit after being down an hour ago. Not sure what turned the tide but not a big move nonetheless.
FDX down about $2 on earnings. ADBE, RHT, KMX up decently. RHT up about 10%.
The Socialist party lost more elections last night. Unfortunately, the party continues to have their head in the sand as they think higher taxes, more regulations, more government, more government control and all that crap wins the day. It doesn’t!. It also doesn’t help that they are capitalists with their own money and their lives but socialists with everyone else’s money and their lives. They are so tone deaf that they put Hillary Clinton on a pedestal. This is a woman, along with her husband, used political influence through speeches and a foundation to make themselves over $100 million, call people who disagree with it deplorable…and expect good things to happen. What happened to all the sane people in the party? They are either gone or shut up. As far as the RepubliCONS, not so sure it is much better. They have about another year to prove me wrong.
In Mexico leftist politicians are called RADISHES, white in the inside , red on the outside.
Like you say, socialists for the masses, capitalists for themselves.
They love their steaks, limos and perks.