Month: July 2018

More of a tech wreck yesterday. Many are out saying it is nothing…it is a blip…just buy. That’s fine. We hope they are right. But evidence in so far is the big money is now selling growth and parking the money in value. We suspect that is something that only lasts a couple of days….

SOURCE: https://abcnews.go.com/Health/wireStory/study-medicare-bill-estimated-326-trillion-56906940

Futures off their lows…almost flat. CAT up almost $5 this morning…in the DOW. AAPL reports after the close tomorrow. A ton more names reporting….ones to watch: PFE, PG in the DOW. RL, SHOP, CHRW, HUM, RCL, SQ, STMP, BABA, TSLA, CTSH, ICE, REGN, YUM, W, ANET, GDDY, SHAK, WTW.

Instead of the NASDAQ/NDX/RUSSELL leading like we have told you they have been leading, we now expect them to lag. This means that the DOW/S&P will actually hold up better. We are not saying this just because of Facebook or Twitter. We are saying this because we are seeing a lot of growth names showing…

On top of Facebook gapping down, lots of other blow-ups. BIOGEN (BIIB) after gapping up recently…worry over drug news…down $40. ABIOMED (ABMD) recent leader down $24. MOHAWK (MHK) big miss, big blow-up. PAYPAL (PYPL) down only 4% but make note think it would have been worse except for a timely buyback announcement. Others…TAL, TREE, TPX,…

Futures down…but down most on NDX because of Facebook. This after a strong day yesterday because of TRUMP/EU potential trade deals. “Gary…I have owned Facebook for a while but giving back most of my gains this morning…should I sell!” I will never tell people who email me to sell or buy and the same goes…