Market Look

Gee…another decent sized gap to the upside! Rates are also coming down after they teased the 3% level. We will leave it at that for this morning. Most gains have been coming pre-market. Not the easiest proposition.  

Intermediate-term corrections usually have major indices drop 10-15% and usually last a good 12 weeks. We just saw one that lasted 10 days. Blame it on algos. Blame it on button pushers. Blame it on the horrible Knicks season. We just think the “A LOW” we called on February 9th, has turned into one hell of…

What? You have never seen a 12% drop in days? Massive thousand point reversals? How about on Wednesday of this week? Up 300 at 230 pm, only to drop 470 points by the close.  How about gains cut in half yesterday with the NASDAQ giving it all back? We have a pattern. Big gaps to…

SOURCE: https://www.reuters.com/article/us-venezuela-food/venezuelans-report-big-weight-losses-in-2017-as-hunger-hits-idUSKCN1G52HA

After yesterday’s gross, ugly, yucky, icky reversal to the downside, futures are up decently as we write this. Futures were way down overnight. Often, the day after some Fed nausea, the opposite reaction happens. In any case, lighter remains better but keep in mind, some of the mega-cap, high growth, beta tech/internet still leading big…

The DOW dropped 470 points from 225 pm after ripping to the upside after the Fed minutes. The S&P dropped 48 points. The NASDAQ dropped 120 points. We are being inundated with emails asking why.  Frankly, we don’t know and could care less. The fact is the Fed was actually more dovish than most expected.,…

DOW down 250…NASDAQ hardly budged with the NDX up. SEMIS were also strong.  We walk in today with DOW/S&P flat but NASDAQ/NDX up strong. That is a theme this second. Not sure it is good news when a select few get all the money but won’t argue with it. You know the names. All the…