A Rest Day

Dow: +7.91… Nasdaq: -4.54… S&P: -2.03… The market took a needed rest today.  Biotech opened very strong, opened above some key resistance, then faded.  This happens a lot at a breakout spot. You get the breakout, then it sells off. Both IBB and XBI recovered off their lows though, so some dip buyers stepped up.  Some…

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Insatiable Bull

Dow: +107.45… Nasdaq: +36.87… S&P: +11.67… I was going to title this evening’s post with “So What Is the Event That Could Wreck This Market?”, but I buried it for another time. I was ready to let it rip, but we are all having too much fun right now and my “event” probably won’t become an…

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Trump Gives Biotech A Hug

Dow: -107.04… Nasdaq: +1.07… S&P: -2.03… The health care sector assumed a leadership position in today’s market, underpinned by the outperformance of the drug and biotech stocks. Those issues rallied on the other side of a meeting President Trump had with industry executives. While the president pressed his case for lowering drug prices, the markets were…

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Hey, It’s Just the Stock Market

Dow: -122.65… Nasdaq: -47.07… S&P: -13.79… What did you expect? Nothing goes straight up or don in perpetuity, so we got a little house cleaning today. No biggy. The S&P gapped lower today but then found a bottom before lunch and managed a slow and steady move off the lows as the day went on. It…

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How To Trade A Trump Tweet

You don’t. Even the algos and black boxes get caught like a deer in headlights when Donnie goes “all social” on their asses. The normal ebb and flow of the market gets disrupted and whacked when Donny grabs his keyboard and rips a tweet. Last week, Trump launched his second president-elect shot over the bow…

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Some Moving Parts

The market has been marveling at the strength in the US Dollar.  Yesterday it popped nicely as the fed telegraphed plans to raise rates three more times in 2017. If you are an American and a capitalist, then this warms the cockles of your heart, but through all the euphoria, no one yet is addressing the problems…

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Mitch McConnell Discovered to Be Mannequin

Georgetown, DC….. Today, Senator Mitch McConnell, was discovered to be a human mannequin. After years of serving Congress in an ineffectual and pathetic way, the Mayo Clinic, in a secret ten year long secretly funded research program discovered that he is really made of wood. “The fucker ain’t real” opined Lester Burgess who works laundry detail at the world famous…

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Energy Looks Tired, One New Stock Today

Dow: +39.58… Nasdaq: -31.96… S&P: -2.57… Starting tomorrow, Janet “Aunt Bea” Yellen limps to the podium to discuss interest rates.  She has gone from the world’s most loveable lawn gnome, to the most irrelevant person in global society. If the Great Gatsby was still throwing gigs in the Hamptons she wouldn’t be on is list. It began overnight when…

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Old Fashioned Bull Market….Again

Maybe it’s just me, but it seems like the markets have embraced the “Trump” economy.  Less regulation, strong growth etc…. Why else would we be seeing transports and airlines go ballistic to the upside? I’m old, so I remember past bull markets when they embraced these sectors as a sign of good things to come….

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