BA and AAPL did the trick yesterday. Quite amazing AAPL crappy numbers…bad guidance but bought. It’s not the news. It’s how markets react to the news. BA did guide up.
Bad news not going down. Good news going up. Until that dynamic changes…
Powell met with Trump last night but we are being told they did not get too much into easy money policy. Sure!
SOFTWARE remains the strongest. Held up best when markets were being destroyed.
All major indices remain above the 50 day…with the DOW above the 200 day.
Any selling has been bought up during the day.
Very little belief in this rally.
State of the union tonight. Here is our state of the union. Debt is $22 trillion. Yearly deficits above $1 trillion. The first $500 billion of our tax dollars going towards interest payments. The socialists proposing every tax under the sun, moon and stars. The central bank back to easier money. (They were already easy!) But don’t worry. None of that matters because debt is a good thing.
We continue to be the most optimistic we have ever been on the people of this country. We continue to be the most pessimistic we have ever been on the people who are running this country.