Greetings from out west where one falls asleep late and wakes up at 4 am. Yippee! Futures are up as the bounce off of Wednesday’s nausea continues. Brazil bounces back a bit off of yesterday’s drubbing. We almost was thinking about probing the drop but no thanks. NASDAQ/NDX/SOX remain the strongest but leave no doubt…
SOURCE: https://archives.warpradio.com/btr/investorsedge/051818.mp3
As we said earlier, things going to get random. At 1035 am, NASDAQ up 48…at noon, only up 15. But don’t blink. We do not like micromanaging. We just wanted to point out what typically happens after a day like yesterday. Take your time here.
Remember what we said. Things will get random after a day like yesterday. Big leaders are indeed bouncing after one big ugly day. This is random but somewhat normal. We will know a lot more as to how and where they bounce…which we won’t know for a bit. One casualty today is Brazil with reports…
Futures down but off lows. After yesterday’s ugly, things may get a little random here. Watching most closely how the leaders act after knifing down yesterday. Gappers on earnings: PLCE, LB, RL on the upside. CSCO, BABA on the downside. More to come.
Well, that wasn’t funny. How dare the market go down? And go down nastily! Let’s back up! We have reported to you that about 40% of the market was already in bearish phases of differing ugliness. Because of that, we reported to you to avoid retail, biotech, commodities, energy, oil&gas, autos, transports and financials. Financials…
SOURCE: https://archives.warpradio.com/btr/investorsedge/051718.mp3
As you know, we have been stating that the market has been narrowing with 40% of the market in not so good shape. We have stated to avoid areas like commodities, energy, retail, biotech, autos transports and recently financials. Financials had not been hit hard but were certainly in the “loss of relative strength” camp….
Just letting you know watching them financials (BANKS,REGIONALS,S&Ls)real closely. They have been sitting range-bound under the 50 day moving average since March 21 with no ability to get back above resistance. The good news is that support has held throughout the many weeks. Support looks like it is going to be tested again soon. Needless…
Futures are down decently this morning as we are sure this opening move down is directly because of the latest accusation on Trump. Without taking sides, this is important. Political risk is important…especially now. We are of the belief the market has made a big bet on: Tax reform…which included lower marginal rates, lower corporate…
