Market Look

The French election has passed and supposedly the market friendly candidate won. Terrific. We wish we can tell you a lot is changing but we will just have to continue to bore you. Not much has changed. Major indices remain in good shape with large cap continuing to lead small cap. The good news is…

Fake jobs number out better than expected. Rate down to 4.4%. Futures up a bit led by the big cap tech/internet. Gaps to upside: OLED, MELI, LOGM, SWIR, WING, AAOI. Downside: IBM down another $6 as Buffett sells. We have been negative on their accounting forever. We will have comments on the Republican healthcare bill…

THAT’S A HALF TRILLION DOWN THE DRAIN BECAUSE OF THE SLEAZY POLITICIANS THAT REFUSE TO BALANCE THE BOOKS…EACH YEAR…AND COUNTING!

We just wanted to reiterate our continued constant call on just about everything commodity as they go deeper into their bear phase. This includes energy, oil & gas, gold, silver, steel, copper, aluminum, fertilizers and anything you can drop on your toes and it hurts. This started with energy/oil&gas on January 30th break of support….

Source:  https://www.usatoday.com/story/money/2017/05/03/puerto-rico-bankruptcy/101243686/

Futures up a wee bit.   FB down just a couple. No biggie after good run. TSLA down about $6. Losing even more money on every car. If this was a steel pipe company, the stock would be $100…maybe. Watching financials here. They have been sitting in the weeds after breaking below the 50 day…

Add media, PAYX/ADT and a bunch of consumer staple names to the yuck side but the good news is there is still plenty working and major indices do not budge. We also make note that financials “feel” like they can head back up after being distributed recently. One decent day will do the trick. Otherwise,…