kaltbaum premarket

I hate gaps. Market down about 1.5-2% this morning as Europe down 2.5-3%. Asia wacked also. I thought a trading top was put in Friday but this could be more. I cannot play a big gap down…and will sit. Very important you recognize that many growth names topping with some with major tops. On top of that, recent strength has been in recession-resistant, defensive areas.

 

Keep your capital. I am quite happy this service did not buy into the recent move to the upside as many got bullish on the move. Should be another interesting day.

 

Lastly and amazingly, this market continues to trace out last summer. For the bulls, they had better hope it doesnt.