THE OPEN

National media waiting breathlessly for the Comey testimony today. There will be nothing in it. I just hope they don’t pre-empt General Hospital.

BABA gapping up as they gave good guidance last night. Very strong name with strong numbers. Normally, we would say this is an extended gap but in this market, not so sure. Other China ADRs strong. Some were on the move again yesterday. Will be a good open for most today.

Remains a big-cap, glamour market as they are now relentless. We think we can leave it at that. Leadership remains narrow but better action late last week broadened things out. Seeing AIRLINES now on the verge of breaking range also.  Seeing a few SEMICONDUCTOR names again on the verge of breaking out. Also, watch them CASINOS leveraged to Macau.