Big cap tech!

More big-cap tech as the NDX outshining the rest by miles. Somehow, we expect this to continue as money piles into a narrow group of names.

We were asked a good question. Why are all these big growth names soaring right before earnings? Who would take such a chance? Answer…no clue. For sure, AMZN, FB, AAPL and others getting a big bid with no let up. But to try and figure out who and try to figure out why takes away from the fact they are moving. If one wants to delve into buying right before earnings, have fun. We just don’t believe there is a great edge in guessing what a reaction will be.

Commodities continue to croak but have to let you know, the selling now feels a little panicky…which often leads to reaction lows. Time will tell. No matter what, the trend is still yuck!

IBM continues to cough it up. Another bad quarter with the stock acting accordingly. We have been bearish on IBM for a long time…and especially bearish on how they report their earnings.

50-60% of the market still aint having it.