Market Look

Auto stocks already on the defensive!

SOURCE: https://www.bloomberg.com/news/articles/2017-03-22/global-art-sales-fall-11-to-lowest-point-since-financial-crisis

Futures flat! We would like to tell you something good but best guess, we are on wait and see with the healthcare bill. We are not 100% but there is a chance a yes to the vote can get things going again…a no causes issues because it could affect tax legislation. Yes…we are on news-driven…

We don’t think you can take too much out of today’s action. Yes, the NASDAQ-types again led but that’s all we will give it. We suspect, absent a surprise news event, we can get some upside testing but there have been a decent amount of near-term chart breaks, especially in the financials. Financials were much…

“Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,”

“We acknowledge that we continue to face a challenging competitive environment and while we continue to focus on our overall profitability, including managing expenses, we reported a loss in 2016 and were required to fund cash used in operating activities with cash from investing and financing activities. We expect that the actions taken in 2016…

That was one heck of a body blow yesterday…not because of the drop but because of what dropped. The financials have led since November 9th, simple as that. So the question must be asked whether if this ugly continues, will they lead down? Back in early January, we thought the financials were being distributed…but after…