kaltbaum email

Greetings from Mykonos…another beautiful Greek Island. Just got back to the ship as it is 7 hours later here.

 

Not much to add. These summer months the past few years have not been very thrilling…especially the past two and now this. I am amazed at looking at the eem,efa,fxi,ewz,xme,kol,slx,oih,xop,xle versus the leading names I have been providing you. They are still shaping up well…for the most part. I noticed a few below the 50 day…and not yet coming back like a UA.

 

Today, ORLY puts the kibbosh on the auto parts retailers. AAP already trashed…now goes the rest…notwithstanding a big reversal.

 

I also like the recent action in LNKD/FB. They are moving with each other.

 

I am thinking into quarter end this week that the market does not get into any more trouble…but not a guarantee. The bigger worry is after the July 4th holiday…if the market does not get a firm rally.

 

Anyway…keep size small…keep stops stiff and dont try to do too much in a market that wants to carve you up.