Some random notes!

Random thoughts:

If things were turned around and it was Bernie Sanders that had all the super delegates but in recent weeks, Hillary Clinton was winning a ton of states, what do you think the media would be saying about the process in the Democratic primary? Rigged? Unfair? Skewed? Maybe we are nuts. Just seems the communist, we mean the socialist is winning a hell of a lot of states.

The infinite wisdom of a few in Washington crushed the shareholders of Office Depot and Staples this morning. Yup, they are worried about an office supply store monopoly. Don’t worry about them airlines! Don’t worry about the drug business. Of course, they do not worry about the biggest monopoly of them all, the Federal Government. Just squash the shareholders because the office supply business needs competition. We cannot buy our pencils at Wal Mart, Target, K Mart, supermarkets, on-line and every other store out there.

The support areas we outlined for you on the pullback held yesterday. Major indices and major areas like the financials held right where they needed to. But let us be clear…we are not sure there is enough juice to get this market really going. For sure, the Dow and S&P are close to their highs but small caps and other indices aren’t even close. But we are open to anything. Just pay attention to the lows of the past couple of days. If they hold, terrific. If they don’t, trouble.

Earnings growth still stinks. Revenue growth still stinks. GDP here and around the globe still stinks. Debt and deficits continue to skyrocket unabated…with no one doing anything about it. But the Mets are playing great ball!

Gary Kaltbaum