kaltbaum email

I want to thank the market for gapping down…as it made life easier. Market is now in correction as the 2nd follow through day over past weeks failed. I am not a fan of 1.4% moves anyhow. But that doesn’t stop us from keeping our leader’s list…because when the market turns…and it turn turn quickly, most of these stocks will lead.

 

 

Yesterday was gross…never good when the nasdaq underperforms…and I must ask you to look at the following charts…efa,eem,fxi,ewz…this is not good news as foreign market continue to lead down.

 

Out of yesterday…aapl,swi,ua,cern broke below 50 day but just by a little. It is ok to base below the 50 day…but remember, a stock cannot lead if it is below. Mnst reversed near the 50 day and finished up.

 

Do I have to tell you…go slow…lots of cash…small position size.

 

Corfu was great…Santorini Greece today.

 

Lastly, go read the op-ed by Joseph Stiglitz…nobel prize economist asking for more govt spending and saying austerity is bad. These fake economists are a joke. We are $1.3 trillion in debt every year…and he is calling that austerity. People like him never even fathom that the problem IS the government spending…but that cant be…because that would make these idiots all wrong.