Market Look

National media waiting breathlessly for the Comey testimony today. There will be nothing in it. I just hope they don’t pre-empt General Hospital. BABA gapping up as they gave good guidance last night. Very strong name with strong numbers. Normally, we would say this is an extended gap but in this market, not so sure….

SOURCE: https://www.zerohedge.com/news/2017-06-06/chicago-cab-industry-collapsing-medallion-foreclosures-soar

SOURCE: http://www.businessinsider.com/sears-is-closing-72-stores-heres-the-full-list-2017-6

A little bit of late distribution in some “glamour” names but they are die. Nothing wrong with some pulling back/consolidating, which can happen at any time. GDX…take a gander as GOLD STOCKS hit the screen today as maybe, just maybe, they could be turning. The metal has been stronger than the stocks which gives us…

Futures down this morning after quiet day yesterday. Not much sticking out here as not a lot of earnings this week. We do have the ECB crap but will be no changes as they are addicted to printing money and keeping rates at a NEGATIVE .5%. FINANCIALS continue to be an anchor here as they…

Will have full report tonight on my trip as well as markets. Futures flat…a few things sticking out! Seeing a few REITS at new highs…avb, cone, dlr, ess, pld, udr…also utilities stronger so the interest-rate sensitive play, for now, has bid. Same for a few housing names. Most of the bearish areas we have been…