PRE MARKET

Futures are whacked this morning. DOW down about 320 as we write this with NDX down 100. Blame is being put on Trump for ratcheting up the “trade war!” We do believe that is the catalyst this morning but we think markets were ready to correct anyhow.

Remember, we wrote to you yesterday that soooo many areas of the market remained bearish indicating a narrow market. On top of that, we have seen more froth in the past 2 weeks than we have seen in ages. A couple dozen IPOs, many with big losses, heading skyward. On top of that, 8 NO SALES Biotech IPOs are coming public. Yes…we said no sales.

It’s only a little over 1% and these weak openings have been bought up just recently. It’s now a great time to see where they pull back the leading growth names in tech/internet/cloud/software and all that crap.