Market Look

Futures down a wee bit. Market remains a little soft after the 300 point day to the upside…which arguably may have been a late suck-in. So far, not seeing much damage on this little pullback. SNAP down another 5% this morning…leaving it down 25% from Friday’s highs. As we told you, early IPO action is…

Market tried to rebound before a late sell down. It feels like we hit an important point after the 300 point up day. Maybe that was somewhat of a climactic day in where for now, that’s the high. After all, markets are extremely extended. Just understand that any pullback at this juncture would be normal….

There is no chart. 3 days of trading does not make a chart. You know our thoughts on valuation but you also know if it breaks out of an IPO base, we may look to buy it as overvalued can get more overvalued. We have seen it time and time again with so-called glamour names….

We were asked numerous times this weekend about Snapchat stock. We were approached by strangers that listen to us or watch us asking us about it. We repeat…valuation is a joke…BUT THAT DOES NOT MATTER THIS SECOND. To be clear…WE HAVE ABSOLUTELY NO IDEA WHAT THE STOCK WILL DO IN THE SHORT RUN. Moves are…

Futures are down a wee bit but were much worse overnight. Worried about North Korea and more Trump stuff weighing a little bit on market. Remember, markets are stretched and extended here with a good dose of bullishness. On top of that, small caps are lagging. Other than that, no biggie so far. Not a…

We wanted to add one other point to the report and that is how stretched things are. Remember…EVENTUALLY, everything returns to the norm whether a stock, a sector or a major index and that norm is support and/or moving averages. To give you an idea: The DOW is a whopping 840 points above the 50 day…

We do not believe these notes were hacked or tapped! Still not a lot of complaints. In fact, we were deluged with reports from pundits who are saying the market is about to be smoked. No…not kidding. Maybe they are right. How about a 1% drop first.? The complaints: Sentiment is off the charts bullish….

The CEO of beleaguered GNC HOLDINGS just bought $5,000,000 shares at prices between $8-8.50 on February 21. This stock has dropped from $35.90 last April to $8.50 as we write this. Keep in mind, just because insiders buy does not mean a stock goes higher…but something to watch.

SOURCE: https://www.wsj.com/articles/was-aubrey-mcclendon-a-billionaire-or-broke-1488486885