SHORT NOTES

By GARY KALTBAUM DECEMBER 4, 2017
It is early but just making note that we are not sure we have ever seen a bit ago DOW up 285, the TRANSPORTS up 315, the NASDAQ down 12, the NDX down 25. Our theme of “changing of the guard” continues to play out. We warned you to the negative action in growth the past week with the DOW up over 600 points with the NASDAQ down. Normally, we would tell you divergences like this are not good…but we will just keep it at TRANSPORTS, RETAIL, DOW-TYPES, FINANCIALS, MANAGED CARE, HOUSING and a little dose of COMMODITY-types are the place to be…and would continue to cast a wary eye at everything growth. Maybe this is just value catching up…or this is high tax companies who benefit while low tax companies that do not not from the tax bill.. Nevertheless, pay attention.We told you this morning we need to watch a “sell the news” scenario. So far, it is just the growth areas.
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