We posted this last night but did not show up.

By Gary Kaltbaum- February 28, 2018

First thought and message to the president…the #1 rule of people management is when praising, praise loudly and profusely! The #2 rule is when criticizing, criticize quietly and privately. We don’t think the president read the manual on this. If you treat your people badly, why would anyone else want to work for you?

Second thought…who said this about our debt and deficits? “Not a near term risk!” Yup, arguably the #2 money guy in the world, our new head of the Fed thinks everything is just fine. $21 trillion of debt is not a near term risk. $1 trillion deficits each year is not a near term risk. Every day, $3 billion being added to our debt is not a near term risk. In the coming year, the first $400 billion of our tax dollars goes towards interest and that’s not a near term risk. And who said this? “Not a supporter of a balanced budget!” Yup…the same dude. Feel better now!

Third thought. The “ping pong” market is now in force as price now bounces back and forth in a wide range. The problem is that the rally was very narrow and that narrowness is coming back to haunt the market. Except for the NASDAQ and NDX, all major indices are back below the 50 day with some never getting above. In fact, areas like the NYSE, TRANSPORTS and SMALL CAPS look downright horrid. The best areas remain the mega-cap tech/internet that has a major influence on the NASDAQ/NDX. Lose those big names and get the fork. Need to add Europe much worse than us. We had better not play catch-up. At the very least, it is going to remain a tough proposition as the market’s complexion has definitively changed.

Fourth thought. The Knicks stink. The Rangers stink. The Giants stunk. Next up…the Mets. Not feeling better!

Serenity now!