PRE MARKET

Shorter-term, doesn’t take a genius to know markets are oversold. But oversold does not mean we do not get more oversold. The biggest problem markets will have right now is that most things have turned down for now. We suspect this will lead to some violent back and forth. Just leave no doubt, things are now tougher.

We would like to say it is good news that we hear this morning reported from the White House that a trade deal is not close and that trade war could last a long time! Yes…getting the bad news out can often be good news. But the market action has been horrid. We now take a step back. We respect that the market is now under pressure. We start watching for relative strength…those stocks that hold up best during market turmoil. We are patient. Do we believe this is the start of something much worse? We do not know but if worse cards come out of the deck….