Futures down a bit. We said a couple days back it “felt” like market was stalling out and may be ready for some sitting/pull back/corrective work. We are getting a little bit of it but again, it is a no biggie. Pullbacks and settling in are not a bad thing. It is actually a necessity. So we sit back and see where it takes us. Again, so far, not much.
More gaps to the upside this morning. BBY, MELI, PANW, TNDM come to mind. This on top of AZO, DDS, ETSY yesterday. To be clear, it is good news to see a decent amount of strong reactions. Big gaps to the upside are very rare in bear markets.
And lastly, cost estimates of the New Green Deal are between a measly $53 trillion to over $90 trillion over 10 years. We think these numbers are low because it does not account for an economy that would go into the s—-ter. This would certainly raise the costs for this fantasy land nonsense. We will continue to be one of the biggest voices against these authoritarian dictators that want to run the world. They want to run your life. Tell you what to eat, what to drive, what to believe. They want you to believe they are altruistic but there is no altruism in power and control. They tell you higher taxes are to help others but they dont tell you that for every $1, maybe…just maybe 10 cents remains after all their bureaucratic nonsense and their payoffs to people who bow down. Just notice they will not tell you cost. They will not tell you how. They will just tell you the rich and successful are crooks, billionaires are immoral and people are poor because others are rich. We also want you to notice that all of these people have never run a business, created a dime of wealth and have actually not a clue how things work. More to come.