Greetings. Heading to Ireland tonight…which means we will have a lot to write about as we love writing when we travel.
We will be writing about the NFL, tax reform, Bernie Sanders and whatever else comes to mind. The con artist Sanders actually said the Waltons (of WalMart fame) have too much money. This coming from someone who has lived ff the taxpayer his whole life, never created a dime of wealth or a job. Love these people.
Futures down. We suspect yesterday was a bit of end of quarter window dressing, which does not happen because it is illegal…and the tax reform. Futures are down today.
SEMIS had a HUGE day yesterday. MU moved to new highs off of strong earnings with others up in sympathy. Lots of set-ups in semisconductor-land.
OILS continue to be strong off of oil prices continuing to rise. That continues this morning but is overbought.
Yields on the long end continue up giving a good bid in the FINANCIALS. Right now, there is a 100% direct correlation between financials moving up or down and yields moving up or down. Yields bottomed Sept. 8. Financials bottomed SEPT. 8.
Lastly, we will write about the tax reform this weekend but loving how the socialist party is whining that tax cuts will add to the deficit and cost too much. Funny, never heard these hypocritical dolts yelling at Obama for his $8-9 trillion of debt and his profligate spending during his administration!