Market Look

SOURCE:  http://www.espn.com/nfl/story/_/id/21056998/nfl-ratings-75-percent-week-6-2017-compared-2016

The big story this morning is IBM as it is up almost $10. IBM reported lower earnings and sales from the year before but BETTER THAN EXPECTED. Of course, IBM used about an 11% tax rate. But in the spirit of IT’S NOT THE NEWS, IT’S HOW MARKETS REACT TO THE NEWS, we take no…

What a turd. Puts others in harm’s way for his cowardice…and we traded 5 Taliban prisoners for him. I guess one can argue after all, he is an American. I guess! Source: http://www.cnn.com/2017/10/16/politics/bowe-bergdahl-guilty-plea/index.html

GS up about $2.80 in the Dow. After being up a few last night, NFLX now down almost $1. Lots of spending going forward. MS up about 1.5%. UNH up $4 in the Dow. JNJ up $1 in the Dow. HOG down $1.50. BMI down about $9 big dollars. After the close: IBM, UAL, CP….

SOURCE: http://www.theorganicprepper.ca/california-wildfires-10162017

To state the obvious facts, for the past 3 weeks, groups like semis, China ADRs, tech, internet have been en fuego. Normally, you get ebb and flow, which means pullbacks and rallies. This is the definition of persistence that does not allow entry. On top of that, it is all occurring pre-earnings reports. We have…