THE BEAT GOES ON!

The DOW down 17 points. The RUSSELL 2000 down the equivalent of 160 DOW points. Really not much more to say. If nothing changes, it is only a matter of time before the more popular indices follow suit. I continue to use the 3 words…”if nothing changes!” Normally, these words would not be used. But in a QE market, if Yellen wakes up one morning and decides to increase the money printing again, all bets are off on further downside. Yes, we remain in a market where we all have to worry about one person’s decisions on printing trillions of buckos.

Since we have been asked, we don’t have a time or time frame when something may or may not happen. But we are aware of elections and election shenanigans as well as end of year seasonality. But this won’t sway us if things continue to deteriorate. If things worsen, market will not wait for seasonality or elections.

Lastly, earning’s season is straight ahead. As usual, expect the jello to fly all over the plate.