It was an 80% downside breadth day, but the moves were mostly measured and lacking any semblance of panic. I have grown to be comfortable with what we have now — not really interested in making many moves — still bullish into July. I might feel different post 5% July ripper — but for now...Read More

For those who traded before the 2000s, it is known to us that a company traded on the NASDAQ was synonymous with being low brow or higher risk. The management of the NASDAQ brand is something to be studied — taking the cache away from the NYSE and even the Dow to make it a...Read More

It was not a goldilocks number, but above the high end consensus — coming in hot at +147k. What we can and will deduce from this, very simply, the economy is much stronger than previously considered. It was just a short while ago when people panicked over recession, myself included. Alas, here we are now...Read More

Tomorrow we get NFP numbers and judging by the ADP #s, they should come in moderately weak. The pressure provided by the administration to the Fed is justified and if we get a “goldilocks” number tomorrow, there could be a sharp move lower in rates. Granted, the charts do not suggest looming crashing of rates...Read More

The July seasonality list I compiled was up a staggering 1.5% today, had been higher intraday. The rotation into homebuilders and Dow stocks started in earnest today, in a manner that was a little shocking. Gains in names like DOW, SJM and other secular names were truly outsized. On the other side of the ledger...Read More