PRE MARKET
Weird day yesterday. Money flowed out of TECH/RISK and into lower beta. MCD up $7 but saw no news.
OILS bounced right off support but we stick with theme that they are now range-bound.
Emerging markets continue to act horrid and should be underweight right now. A few countries, namely Brazil for starters and basket cases. Go look at EWZ.
Futures down decently on NAZ as APPLE supposedly lowering parts suppliers by 20% but also add that yesterday’s action gave clue that TECH was petered out near term. LRCX did stand out as semi-equipment names not acting well.
Nothing wrong with pullbacks as long as they are controlled and rotational…but to be clear, 50%+ of the market still aint happening!
Trump getting ready to kick some arse at the G7. Feds to raise rates again next week. Facebook having trouble sharing deals with corrupt Chinese. Apple puts lipstick on a pig and calls it their NEWEST development. And price follows. But we don’t care about price. Ping. Pong.
Hi Gary,
On CNBC Tom Naratil posted that investors need to remain invested and pointed out this fact: “Since 1928, returns in the final year of bull markets have averaged 22 percent, versus 11 percent in mid-bull-market years. But only those with the required degree of patience and perspective realize those gains”. So what do we do with the fact that for the 12 months leading up to the late January highs the S&P was up 32% and the Dow 26%?