-I am open to anything. I am open to all points of view. I pick apart all points of view. I trust no one in Washington DC. They have earned my ire and should have earned your ire by now. After all, there is no better evidence than $22 trillion of debt and trillion dollar yearly deficits enabled by a central bank that must continue with their easy money policies in order to keep the asset bubble alive. There is no better evidence than the first $500 billion of our tax dollars going towards interest this year and rising every year going forward. This is a pox on both parties, but of course some worse than others.-
-If you have watched me on TV or listen to me on the radio, you know that I have blasted all parties. I have blasted the left for their socialist, high tax, more rules and regulations party and I have blasted the right as they lied about their intentions with the debt and deficits. When they had a great chance to do something, Trump, Ryan and McConnell RAISED government spending by more than $250 billion/year ensuring the trillion dollar deficits as far as the eye can see. I cannot tell you how much hate mail I get from the Trumpsters on this. But I do give them credit for at least lowering  taxes and lowered regulations. At least, they have changed for the better how business feels. We do give them that. I get hate mail from both sides.-
-I and others are also being accused for being AOC obsessed. Obsessed because she is young? Nope! Obsessed because she is a woman? Nope! Sorry! Can’t help you with that one. Not obsessed with AOC. Not obsessed with Bernie. Not obsessed with Elizabeth. I could care less who it comes from. I am only obsessed with policy. I am obsessed with how anyone can vote for socialism. I am obsessed with the con and the scam called authoritarian socialism and socialists who want to take over wide swaths of the economy, which will indeed destroy this country. I am obsessed with moronic, imbecilic, nonsensical policy that is given a serious stage and applauded. I am obsessed that MSNBC would bring AOC on for a one hour interview and just con the hell out of anyone watching while filling the audience with a loving host and sycophants who applaud her every breath. It just happens to be AOC front and center leading the party’s charge.-
-I did it. I took an hour of my time to watch Chris Hayes not do his job as a “journalist” but act as a sycophant in his biased “I love you” seat setting the Congresswoman up with “I got your back” questions.-
-Here is what we did not get:-
-We did not get any meat on Amazon. Not one mention that in large part, because of this Congresswoman, Long Island City lost up to 50,000 jobs…lost that tax base…lost sales for restaurants, spas, health clubs, furniture, schools, hospitals, clinics, coffee shops, airports, airlines, transportation, broadway tickets, sports tickets (but who wants to go to a Knicks game)…lost billions in construction, construction materials, construction jobs…lost the potential of an Amazon attracting other businesses. We can go on and on with this. For a woman that supposedly cares so much about the peeps, not so much. NOT ONE WORD ABOUT THIS. Way to go Chris Hayes.-
-We did not get specific coverage of the original nonsense put out better known as the Green New Deal.  We got the blaming of a staffer. We got her blasting anyone who questioned the cost by bringing up “Dr. Evil!” We got the usual that the right “just loses its mind!” We did not get any mention of the “no air travel” stupidity. We did not get any specifics on cost. We did not get any specifics on the specifics they will need to move these “ideas” forward. There is a reason for this. AUTHORITARIAN SOCIALISM DOES NOT WORK. IN FACT, THE ONLY WAY TO OPEN THE DOORS AND TURN ON THE LIGHTS TO SOCIALISM IS FROM THE DOLLARS CAPITALISM CREATES. Once socialism takes over capitalism, you get Venezuela from 5 years ago. Once capitalism is all gone, you get the Venezuela of today.-
-Speaking of that, we did not get any decent discussion of the tragedy that is occurring currently in Venezuela. I gather it would not fit the template.-
-We did not get any talk of the resumes’ of the people who call themselves socialists. Not one mention of Bernie who has been living off the taxpayer his whole life and who has said that all earnings above $1 million should be taxed at 100%. Not one mention of AOC’s expertise in running wide swaths of the economy.-
-We did not get these questions: How much will this cost? How much will you tax? What if the many get so mad at how high the taxes are that they just move somewhere else? What is in your resume’ that says you know what you are talking about? What happened to global cooling? Why do we need government healthcare for all when 91% of the people already have?  Have you read about all the problems that the UK has with the government-run NHS? What if you are wrong and the economy collapses? We did get the tough question: “how did you get your politics?-
-We did get these quotes:-
-“They had to amend the constitution of the United States to make sure Roosevelt did not get reelected”
Hmmm…last I remember, FDR died in office in 1945 while the 22nd amendment was approved in 1947 with the process completed in 1951. AUTHORITARIAN SOCIALISTS DO NOT DO THEIR HOMEWORK-
-“We aren’t producing and we aren’t innovating in the way we need to as an economy!”
AUTORITARIAN SOCIALISTS MUST TELL YOU HOW THINGS SUCK RIGHT NOW. SUCCESS IS THE SOCIALIST’S ENEMY! The fact is we are the greatest producers and innovators the world has ever known.-
-“We will have to mobilize our entire economy around saving ourselves and taking care of this planet!” AUTHORITARIAN SOCIALISM WORDING..”OUR ENTIRE ECONOMY!”-
-“They wave this wand and they say, ‘oh, it’s going to cost a bazillion dollars,’ like they sound like Dr. Evil… you know, let’s just start. Now!” AUTHORITARIAN SOCIALISTS GO TO THEIR DEFAULT SETTING OF COMEDY IN ORDER TO NOT ANSWER ABOUT  GARGANTUAN COSTS-
-“We need to save ourselves. There will be no future for the Bronx. There will be no livable future for generations coming for any part of this country in a way that is better than the life we have today!” AUTHORITARIAN SOCIALISM NEEDS A CRISIS-
-“An economic system that enriches the few in enormous amounts at the cost of the working class and middle class.” AUTHORITARIAN SOCIALISTS NEED TO CONVINCE THAT THINGS SUCK AND THAT THE PEOPLE ARE POOR BECAUSE OTHERS ARE RICH.-
-“Climate change is different because we have an expiration date!” AUTHORITARIAN SOCIALISTS MUST SCARE THE CRAP OUT OF PEOPLE-
-“We don’t have time to wait. We don’t have time for 5 years for half-baked, watered down compromise positions when people are dying because their insulin is skyrocketing. They are sending their kids to school that have lead in the water. This is urgent and to think we have time is such a privileged and removed from reality attitude!” AUTHORITARIAN SOCIALISTS NEED TO CREATE AN IMMEDIATE CRISIS. Didn’t the famed scientist Al Gore give us 10 years until doom 14 years ago?-
-We really can go on and on but the amazing part about this is that just 2,700 miles south of where we sit today, there is blatant evidence of what happens when a bunch of AUTHORITARIAN SOCIALISTS who have never run a lemonade stand, take over wide swaths of the economy, when the state run by numb skulls tell the masses that their lot in life is where it is because they are being screwed, when con artists tell  the masses that their lives will be so much better in their hands. They tell you everything will be free but then do not tell you who will pay and how much. They will not tell you nothing is free and that there are always costs. AUTHORITARIAN SOCIALISM turns into utter destruction. It turns into the loss of the currency, the loss of business, the loss of wealth, the loss of trust, the total loss of hope and ultimately the loss of people as the many flee the country. Yet amazingly, people here still fall for it. There is a reason Venezuela was not mentioned during this AOC “love-in!” It’s called the scam and the con of socialism. They now call themselves Democratic socialists. But there is nothing democratic about socialism. –



-End of quarter.-

-Recent pullback anemic forming bullish wedges. (This simply means you draw a line from about 10 pm down to 5 pm. The DOW is the weakest but that has a lot to do with BOEING. (BA)-

-Yields are oversold and stretched to the downside along with financials. Bouncing this morning.-

-Bullish wedge pullbacks in important big names like AMZN.-

-RAILS either moving out of range or setting up off moving averages…(NSC, CSX, UNP) By the way, everyone is worried about recessions but we must tell you that there is no way in heck there is a recession coming here if RAILS are going topside. Markets are pretty smart.-

-Recent wicked action in leading software names reverse and are back in range. (with a few names that have broke support)…but most just back in range.-

-Today’s gap to the upside on supposedly good news on China trade has everything higher. But there really isnt any good news on China trade. It is just made up to “explain” why markets are gapping a bit this morning. We promise that if markets were gapping down, the headline would be “markets are down because nothing done on China trade.”-




Futures up a few pennies after being down throughout the night. Then the usual planted story about China trade comes out and futures rally back up.

Yesterday, not so good but could have been a lot worse as a late day rally cut losses. So far, pullback but not the most harsh pullback. Yesterday, they came after leading tech breaking a few below the 50 day with others down towards that important level. But again, many names did bounce back some of the losses.

LULU huge gap on numbers takes it to new highs.

FIVE gaps even though they lowered guidance…go figure. PVH also with a nice gap. Remember, it is still end of quarter window dressing time even though it is illegal and does not happen.

And lastly, looks like LYFT trading today. Coming out around $70-72…higher than they thought. We shall see how it opens…probably nicely…of course, they lost almost $1 billion in the past year and will have losses for quite  a while…but since when has that stopped a hot IPO.



Mushy day yesterday. More narrowing of market but so far, just a pullback overall. Of course, we still have to watch the recent cliff dive in financials as well as long term yields…which continues this morning as the 10 year at 2.402 as we write this.

More central banks turning even more dovish as economic numbers continue to come in soft. The real question is what someone with negative rates and already printing money can do from here.

It remains end-of-quarter week…the whole week.

And LYFT coming public…only lost over $900 million in past year. Price of IPO been slowly raised to the mid to high 60s.



Mushy day yesterday but no more real damage after Friday.

Yesterday, we told you the usual that we tell you at the end of every quarter: “This week is end-of-quarter, window dressing week. Of course, window dressing is illegal so does not happen. It usually has a positive bias but right now, lots going on.” TODAY…we walk into a big gap to the upside. Rates ticking back up a wee bit.

Again, another big gap to the upside as we enter not end-of-month but end-of-quarter.

There has been some decent damage in a bunch of areas, namely the FINANCIALS. Leading growth names have pulled in hard but still above support and moving averages. More and more easy money talk pervades the air. REMEMBER, we are in the 100% camp that the next move will be the lowering of rates by Powell.