Since I had 15 minutes of sleep and since market all over the map overnight, will wait to give you bigger report on both markets and the election tonight. I also have to change my winners/losers report completely. On the open: Biotechs/drugs soaring as Trump and a Republican Congress essentially takes all the drug price scrutiny…
Market Update: Stock futures plunged nearly 900 points over night and are now bouncing back after the Trump victory. Gary’s Thoughts: That’s not a bounceback. That’s a monstrous reversal. Economic Calendar: Bank Reserve Settlement MBA Mortgage Applications 7:00 AM ET Wholesale Trade 10:00 AM ET EIA Petroleum Status Report 10:30 AM ET Neel Kashkari Speaks…
When we coined the term government run markets, we were basically talking about central banks, both here and around the globe. Little did we know we would have to include the FBI. Tonight, the FBI turned tail again (are you dizzy yet?). We will leave that for another day. As we write this, Dow futures…
Market Update: Stock futures are up nicely ahead of Monday’s open after the FBI said Clinton was all clear from the latest email scandal. Now the world waits for the outcome of Tuesday’s much anticipated election. Gary’s Thoughts: Nicely isnt the word…strong is better but markets were extremely oversold and due to bounce anyhow. The…
We have been watching the semis and the financials closely. They have been the ports in the storm. The SOX, as we write this is pulling another 9/12 and 10/13. Both those days teased breaks to the downside only to reverse up at important support. This is vital to the market that it holds. It…
“SO IT’S TRUMP WHO WILL CAUSE ALL THE PROBLEMS?” By Gary Kaltbaum November 4,2016 Many are wringing their hands on why the markets are buckling. Many are blaming the swoon on the better poll numbers for Trump. We think they may be right but not for the reasons many are giving. Recently, 370…
Market Update: Stock futures are relatively quiet ahead of Friday’s open as investors digest a busy week of earnings, central bank and political news. Gary’s Thoughts: Fake employment number out…as expected. Futures flat. Not a lot to take from it. The trees…market is very short-term oversold and could bounce at any time. The forest…lots of technical…
Stocks opened higher but quickly gave up the gains and spent most of the day near unchanged as sellers remained in control. Overnight, two major central banks moved away from an ultra-easy money stance. The Bank of England and China’s Central Bank both said they will not do more to stimulate markets right now. The…
SOURCE: http://www.espn.com/mlb/story/_/id/17963668/keeping-promise-man-listens-chicago-cubs-win-dad-gravesite
New yearly highs NYSE…15 New yearly lows NYSE…88 New yearly highs NASDAQ…27 New yearly lows…177 Yuck!
