Markets

Futures were strong earlier but now down…down much more on the NASDAQ/NDX. Big TECH continues to be yonked. We were even surprised how weak the market was yesterday. When a market is stretched. extended and oversold, bounces usually occur. So far, they haven’t lasted a day. Continue to sit back and be patient. Our thesis…

BIG GAP TO THE UPSIDE IN THE PRE-MARKET….NO REAL NEWS EXCEPT IBM BUYING RED HAT IN WHAT WE BELIEVE IS AN ACT OF DESPERATION…AND THEY OVER-PAID. WE WROTE THIS REPORT OVER THE WEEKEND BEFORE THIS MORNING’S GAP! The evidence at hand is all one really needs yet so many continue to turn a blind eye…

The trees….short term moves…a 1 out of 10 on the importance scale. The forest…bigger picture…a 10 out of 10 on the importance scale. Too many want to call the bottom. Too many playing in the trees. When you have a chance, go check out the charts of the DOW, S&P, NASDAQ, NDX, SOX, XLF, KRE,…