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The Morning Look

ByGary Kaltbaum
1 Comment

Market Update:

Stock futures are a little higher ahead of Thursday’s open as investors continue to digest a slew of earnings reports.

Gary’s Thoughts: After yesterday’s reversal. guess what? A little gap to the upside. While there are a bunch of names gapping down off of earnings, we make note of the slew of names reacting well to earnings this morning. This is important to the market. TSLA,FFIV, NOW,BWLD,CAKE,TER and down and out biotechs CELG and ALXN also gapping up.  KEEP IN MIND, this baby remains nothing more than range-bound nausea. Hoping to bust out one way or another. Financials continue to get the relative bid and have the best patterns in the market.

Economic Calendar:

  • Durable Goods Orders 8:30 AM ET
  • Jobless Claims 8:30 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Pending Home Sales Index 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Kansas City Fed Manufacturing Index 11:00 AM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights:

  • Toyota adds 5.8 million more vehicles to global Takata recall total
    Gary’s Thoughts: Just recall every car.
  • EpiPen Rival Plans Return to U.S. Market in First-Half 2017
    Gary’s Thoughts: It’s about time. Mylan really gouged.

One Comment

  1. It’s the dollar.
    IEF fell today; ….. Jew Boy, ( …… and your two dogs, …..kike, and himey).
    With a fall in IEF, interest rates went up, with it, up went the dollar…..and that is stalling the market.

    Please Yoda ????
    Q: Where is the market going ?
    Yoda:
    A: The opposite of the dollar.

    Please Yoda ???
    Q: Will the fed rig the dollar to fall ?
    Yoda:
    A: They have to !

    A dollar rally is equal to an interest rate hike.
    The market is being held up by easy money ( IE: a cheep dollar and/or low interest rates).

    The dollar is extended to the up side, if this continues, the fed must either crush the dollar,, or, forget about the next interest rate increase.

    Yoda looks to the force:
    The fed is watching the dollar, they know the market will crash unless they intervene in the dollar rally. The intervention will come in the form of; no interest rate increase, and that will drop the dollar, and with it, that will hold up the market.

    Yoda:
    I’m thinking about getting rid of my margin account.
    Go long, don’t fight the fed.

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