Just to get it out of the way: The 40-45% of the market that has not been participating bounced on Thursday. We do not think things changed there. Maybe GM and F turned the corner with the worst being over but that’s about it. But lots of good out of Thursday’s action. We’ll just report…
SOURCE: https://archives.warpradio.com/btr/investorsedge/060118.mp3
SOURCE: https://archives.warpradio.com/btr/investorsedge/053118.mp3
Futures up…but do not forget financials. Good ADP number. DE paying cash for someone…lots of bucks…DE up 3%. PANW, CIEN gapping up. WYNN also up on Macau numbers. Would rather see weaker opens and stronger closes…but take what we can get.
The major indices, by the close, ignored the carnage in the big financials. This is good news. As we have harped on, almost 50% of the market not participating and now we get many financials taking another leg down. This is to be kept in the file manager and remembered. BUT…WE CONTINUE TO SEE VERY…
