Market Look

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,…

SOURCE: https://www.nytimes.com/2017/05/03/magazine/a-look-inside-airbuss-epic-assembly-line.html?_r=0

SOURCE: http://www.nasdaq.com/article/sec-approves-request-to-list-and-trade-quadrupleleveraged-etfs-20170502-01913

Futures are down a wee bit…just because. The Fed will announce no move today…blah blah blah… Apple (AAPL) down less than $1.50 after earnings came out. Market now looking at the next iphone. Actually surprised not down more. Gaps to the downside this morning: ETSY, TWLO, IPHI, AKAM, LCI, DXCM, VRSK Gaps to the upside:…