Wednesday’s Morning Look
Market Update:
Stock futures are lower ahead of Wednesday’s open as the market continues to flirt with record highs.
Gary’s Thoughts: Look at that…we are down at the open. We don’t have to tell you markets are just way overdue for sitting or pulling in…which would be normal and not a bad thing.
Economic Calendar:
- MBA Mortgage Applications 7:00 AM ET
- Redbook 8:55 AM ET
- Existing Home Sales 10:00 AM ET
- 2-Yr FRN Note Auction 11:30 AM ET
- Jerome Powell Speaks 1:00 PM ET
- 5-Yr Note Auction 1:00 PM ET
- FOMC Minutes 2:00 PM ET
Highlights:
- Russia’s U.N. envoy dies suddenly in New York
Gary’s Thoughts: This one DOESNT look suspicious…we think! - Mark Cuban: Robots will ‘cause unemployment and we need to prepare for it’
Gary’s Thoughts: Technology has been doing that job for a couple decades.
About the dead Ruskie:
Them Russians drink too much, eat too much bad food, smoke; chug Vodka; and by middle age, they are living on borrowed time.
They Clog up their hearts …
The old ticker stops ticking….
Average age of death for a Russian man is around 54 yrs.
I saw a TV once, where the Russian TV NEWS was interviewing a Russian family, the TV guy asked, ” where is your dad?” They pointed to a drunken man, sleeping behind the wood stove…
I like the Russians ok, nationally they are anti sematic….
……
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The markets, my two indicators are screaming pull back,
I trust them.
Butt; …we are near EOM ( end of month ) and the banks are soo close to the 50 day support, if we do pull back, I’d not expect much.
Yoda is looking for a change, maybe first week in march, not really until then.
March : Will we, won’t we break below the 50 day….. ?
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Ok, back to my ham and ice cream sandwich.
I’ll chase it down, with a glass of milk, and a hard boiled egg.. maybe some shellfish..