kaltbaum premarket

Last night I told you that market may pull in here as we saw some churning signs yesterday…but that pales in comparison to this morning. First off, we pay attention to the market…not the other crap we have to deal with on a daily basis…but all that crap is out there to be seen.

 

This morning…I get in my car…get into standstill I-4 traffic…and whip out the newspapers while I sat. Every newspaper had bullish articles on the market and amazingly, every article had reasons why market was moving up. The writing was almost giddy. There was only one mention of more printing of money and no mention of what is wrong. I HATE BULLISH ARTICLES. We shall see if this is meaningful.

 

On the other side, received a few emails about all the round numbers being hit like S&P 1400, Russell 800…most being suspect of the move.

 

For me, this recent move has been the worst areas rallying as growth has basically sat throughout this latest few day move. I expect any pullback at this point to be controlled and hoping it gets a few of my favorites mentioned here set up. Names like EQIX are sitting tight and just need to see it move out…so be ready.

 

PCLN coughing one up…affecting other names in the group as well as some internet names. I will be watching how EXPE acts off of this.

 

Z,EZCH,RL,MCD,DISH,AVT gapping down…DF,RAX,ESRX gapping up. Looked at RAX numbers…not sure why the strong reaction.