Newsletter

Strong ADP numbers this morning. We have stated that the intangible of confidence may be back in the business owner’s mind…and possibly this leg up in hiring has to do with that. We shall see. Futures are basically flat but because of the ADP number, bonds selling off, yields rising and financials strong. Higher long…

Wish we had more to say but not a lot of movement this morning…and frankly, we are good with that. There is nothing bad about a quiet, calm pullback of indices. After the move off of the election, one is due…but so far, major indices not giving much back. Small caps are definitely under-performing tbhis…

More of this little pullback but keep in mind, lots of jello moving on the plate.   First off…housing stocks continue to have the best charts and a near term bid. Not exactly beta but working. Commodities are still breaking near term support and now seeing some steel names gag. Junk bonds may be topping….

Since we are being asked…no, we would not try and catch the proverbial falling knife because the action for this new IPO is random.  If you buy and it goes up, it is just luck. There is no edge in here with the trading.When we said last week that if this company sold pipes, it…

Futures down a wee bit. Market remains a little soft after the 300 point day to the upside…which arguably may have been a late suck-in. So far, not seeing much damage on this little pullback. SNAP down another 5% this morning…leaving it down 25% from Friday’s highs. As we told you, early IPO action is…

Market tried to rebound before a late sell down. It feels like we hit an important point after the 300 point up day. Maybe that was somewhat of a climactic day in where for now, that’s the high. After all, markets are extremely extended. Just understand that any pullback at this juncture would be normal….

There is no chart. 3 days of trading does not make a chart. You know our thoughts on valuation but you also know if it breaks out of an IPO base, we may look to buy it as overvalued can get more overvalued. We have seen it time and time again with so-called glamour names….