Market Look

Keeping it short and simple. Off of massive easy and easier money around the globe: Big 4 indices either breaking out of a long trading range or on the verge. Even bad news has been bought up in names like CAT and AMZN. The SOX and FINANCIALS into new high ground. This is very important….

Futures are down but way off lows. TXN will be no help. TER will be help. The market had better not lose the SEMIS because growth worsened even more yesterday. Growth is in a bear market. Value continues to get the money flows. Noticing CAT terrible numbers but actually up after initially being down 7%….

Futures flattish except for BIIB up $82 on drug news. Speaking of that: ‘Gary…was there any way of knowing if BIIB would be up $82 this morning and make money off of it?” Answer: Not without going to jail. Internals are improving. All the comatose areas are improving. All the areas that lagged for months…

Friday was the best 250 down day in the DOW we have seen,. BA and JNJ were the culprits but A/D not so bad…but growth continues to melt down. A couple things we are watching. The DOLLAR may be topped for now. If it is, expect COMMODITIES and MULTINATIONALS to do better. BONDS may be…