One more note: We forgot to mention that we believe Gold and gold stocks hit a near term top over the past 3 days as 2 of those days finished at the lows of the day off of very extended conditions to the upside. Pullbacks are normal from these conditions. Volume was heavy on the…
Why is it when Republicans vote for somebody they are deemed to be angry but when Democrats vote for somebody they are deemed to be intellectual and reasoned? Just saying! Also, needed to point out the establishment still does not get it. We still have a long way to go but the establishment had better…
Stock Market Overview: Futures are up ahead of Wednesday’s open as stocks try to recover from Tuesday’s sell off. Gary’s Thoughts: Saw this headline: “Yesterday’s laggards are today’s leaders! Of course, we haven’t even opened yet. Commodities ruling the day! Economic Data: MBA Mortgage Applications 7 am EST Wholesale Trade Data 10 am EST EIA…
Stocks fell on Tuesday alongside other so-called risk assets after China announced disappointing trade data. China’s decline in exports deepened in February which strengthened the case that more stimulus may be needed. Chinese exports fell -25.4% year over year which illustrates how weak global demand is. This was the largest decline since May 2009. Chinese imports also…
Stock Market Overview: Futures are lower ahead of Tuesday’s open as investors pause to digest the very strong rally we have seen over the past 3.5 weeks. Gary’s Thoughts: A few important thoughts: Leave no doubt small caps are laden with commodities…Bullishness on commodities is where bearishness was just a couple of weeks ago. That’s what happens…
Stocks opened lower but closed mixed on Monday as the beaten down areas of the market continue to march higher. Oil prices surged over 5% on Monday and have vaulted over 42% since the Feb 11th, low! That is a massive rally over a short period of time. All the areas that have not been…
The rally we called for on Feb 11-12 continues but we now believe that overall, markets are due to rest. Very simply, markets are beyond overbought. But the good news is that overbought will cause pullbacks but the fact things got so overbought is a good thing. But what interests us more is what is happening…
Stock Market Overview: Futures are relatively quiet ahead of Friday’s open as investors wait for the fake jobs report. Gary’s Thoughts: We have a continued rally in “everything that did not work” for 18 months. Brazil, China, Russia, commodities, emerging markets and all that crap are making big moves off their depressing lows. Keep in mind,…
Stock Market Overview: Futures are relatively quiet ahead of Thursday’s open as investors digest Tuesday’s very strong rally and wait for Friday’s fake jobs report. Gary’s Thoughts: We are paying a lot of attention to the worst areas as they try to turn the corner. Forgot to mention that the financials also look like they are…
Stocks finished well but nominally on Wednesday. Overnight, Moody’s Investors Service cut the outlook on China’s credit rating from stable to negative which bodes poorly for the global market. In the U.S. MBA Mortgage applications fell -4.8%, lower than the last reading of -4.3%. ADP, the country’s largest private payrolls company, said private employers added…
