Markets

While this nonsense of nothing testimony continues, just letting you know it looks like financials are carving out a low. This does not mean they are going to get going. It just means recent support levels are putting in a good hold of those levels today. Check out the KRE, KBE, XLF. It is still…

The semiconductor index (SOX) is up about 60% since last July. Intel (INTC) is flat. That is amazing under-performance. Just letting you know a director just bought about $500,000 worth of stock right around today’s prices on June 5th. Just because insiders buy does not mean a stock will go up but combined with the…

National media waiting breathlessly for the Comey testimony today. There will be nothing in it. I just hope they don’t pre-empt General Hospital. BABA gapping up as they gave good guidance last night. Very strong name with strong numbers. Normally, we would say this is an extended gap but in this market, not so sure….

SOURCE: https://www.zerohedge.com/news/2017-06-06/chicago-cab-industry-collapsing-medallion-foreclosures-soar

SOURCE: http://www.businessinsider.com/sears-is-closing-72-stores-heres-the-full-list-2017-6

A little bit of late distribution in some “glamour” names but they are die. Nothing wrong with some pulling back/consolidating, which can happen at any time. GDX…take a gander as GOLD STOCKS hit the screen today as maybe, just maybe, they could be turning. The metal has been stronger than the stocks which gives us…

Futures down this morning after quiet day yesterday. Not much sticking out here as not a lot of earnings this week. We do have the ECB crap but will be no changes as they are addicted to printing money and keeping rates at a NEGATIVE .5%. FINANCIALS continue to be an anchor here as they…