PRE MARKET

Futures down for a change.

BABA beats nicely…up 5% pre market.

After that, a few small gaps to the downside in CSCO, NTAP, BGG, SNPS and WMT, LB as the retail disaster continues. WMT has been acting much better than the rest…but reports again with basically no growth. LB is down over 50% in past 9 months.

Even though we are just a smidge off the highs:

New lows more than new highs on both exchanges.

50-50 market as half market in own private bear with oils in full meltdown.

Lots of blow-ups off of earnings recently.

We were asked whether it is negative for markets that all these CEOs left the counsels leading President Trump to disband them. Let’s just say it isn’t a positive. I personally loved seeing these captains of major businesses in the White House talking about the economy. Hopefully, they can get back on track.

As far as the president…another big unforced error. We castigated the president here for his initial reaction to Charlottesville and took a deep breath when he finally came out and “fixed things up!” But then…he goes right back into utter stupidity. And let us be clear…to give any daylight to Neo-Nazis is assinine. We are not like the media. We do not call people racists like we are talking about the weather. The media went corrupt ages ago. But this was another blunder which directly caused the CEOs to abandon the White House…and that is not good news. Hoping for better days ahead.