The Morning Look
Stock Market Overview:
U.S. stock futures are relatively quiet this morning which is normal after last week’s steep sell-off. Stocks fell hard last week with 75% of the market in poor shape and only 25% in good shape. Market pundits are waiting to see what will happen on Wednesday with the Fed meeting and post meeting press conference. More and more key areas are breaking down which emphasizes the importance of playing strong defense if the selling continues.
Gary’s Thoughts:
After last week’s body blow to the market, things are now very oversold. But the fact that it could get this oversold tells you how bad the selling was. Rallies/bounces could happen at any time but that’s the trees. The big picture continues to come under more pressure.
Highlights Of The Day:
- Energy Prices Continue To Implode: US oil prices drop below $35 a barrel & U.S. Natural Gas Falls to Lowest Level Since 2002
Gary’s Thoughts: The bear market in commodities continues. Where it stops is anyone’s guess. In the past, wasn’t it a great thing when oil prices plunged? - Twitter has issued its first warning about a potential hack by government-backed groups, as cybersecurity remains a major concern for companies and states alike.
Gary’s Thoughts: Shouldn’t our government be pissed off about this? Seems we do nothing about it.
- The Wall Street Journal said activist investor, Daniel Loeb, called for Dow Chemical to remove its chief executive, Andrew Liveris
Gary’s Thoughts: The merger may not happen…and is an outcome two companies with sales heading south. - Howard Stern Quit SiriusXM? Not for a ‘Loser’ Podcast – The satellite radio giant might lose $240 million a year in revenue if the King of All Media decides to leave. More here
Gary’s Thoughts: Baba booey! Baba booey!
I don’t think this morning looks so good, Semis have already taken out their 50day SMA….the last sector that was in an ok shape. Junk bonds continue the way down.
Gary, I like the website’s new look and increased articles and of course your commentaries. Gary’s Thoughts is also a nice touch. Keep up the great work your team has been doing for the years of been listening/following.
My commentary or 2 cents is that we are heading into a recession/ bear market in my time not led by oil prices going out of control to the UP side!
Happy Holiday’s to your team,
I’m not really worried about this stock market until we break down thru the last two major lows of SPY. If we break down thru that, we get to see if Fed Chair stanley fisher ( the Jew banker’s Jew ) has the balls to let the market fall; or will he crap his pants like “Bubbles’ did when he was chair, then dump a big bucket full of shekels into the market, and run it back up.
As for this market, now, I am looking at the oils, and the transports for a dcb ( dead cat bounce.). After we dcb, lets see; it is an election year after all. They let it fall for the first half, then run it up for the second half..