Hate to say it…more of the freakin same! But continue to watch the Transports!

More of the same. Market edges up. Market edges down. But the same areas that have been weighing on the market…continue to weigh on the market. You know the list because the list has been out there for months and months but the one area that continues to gnaw at us is the Transports. The Transports, AS OF THIS SECOND, continue to act like the financials did in 07. Back then, when the market would go up, the financials barely moved up. When the market moved down, it was led down by the financials. Now go take a look at the chart of the transports versus the major indices and you will see what we are seeing. To be clear, we are not Dow theorists. We don’t believe the overall market has to crack just because of the transports…but it definitely sits in our file manager. Transports are just that. They are movers of people, cargo, packages and everything under the sun. One has to pause and ask the question whether their action is a harbinger of the economy in the future. After all, we will believe market action before we believe something out of the mouths of the fedheads. Time will tell.

And oh yeah…the Mets are starting to suck again! Too many injuries and no hitting.