We are less than thrilled at what we are seeing here. End of quarter today not so good. 50% of the market is already bearish…which makes us watch the other 50% closely. When markets are at or near highs, a 50% number is more than subpar…telling us fewer and fewer soldiers are going up the mountain. So pay attention here. Specifically, pay attention to the biotechs and to a little lesser extent, the semis. You already know our thesis on the biotechs. This is where the risk is…which cuts both ways. When it works, it works well. When it doesn’t, look out. Time to watch the BIB,IBB and BBH. All held the 50 day recently but now looking like a potential lower high. A break back below the 50 day would be worrisome because if the big strength gets taken out, the not so big strength goes bye bye. So again, pay attention here.
201 S Orange Ave.
Orlando , FL 32801
Toll Free: 888-422-5559
- THE OPENJanuary 16, 2018 - 9:47 am
Big gap to the upside. Led by tech and all that stuff as we enter earnings. Only things soft this morning are commodities, transports but minor pullbacks. All this is happening right before and into earnings. More later… and I hear bitcoin squashed but that can change by the end of the day.
- LOTS OF MARKET NOTESJanuary 15, 2018 - 4:31 pm
In no particular order: The dollar is breaking to new lows. The euro and pound are breaking to near yearly highs…out of clean bases. We suspect this is part of why commodities keep moving higher. Major indices are stretched, extended and overbought as much as we have seen in a long, long time. Names like […]
- RADIO SHOW 1/12January 12, 2018 - 6:51 pm