In truly abysmal tapes, breadth collapses and everything is sold. This is not the case this go around, with the squall keenly focused in on high growth “froth” names, aka the companies that make investors money in bull markets. The type of pin action we are seeing would be suggestive of recession or some sort...Read More

Today’s market character took a dark turn this morning with non growth stocks becoming targets due to what I suspect was “source of funds” for many battered traders. These dislocations often represent optimal buying opportunities and we made some moves today to both pare and bolster current holdings.Before I get into that, I want to...Read More

I left my vacation to be back for the session tomorrow, something Mrs. Fly isn’t too amused over but I insisted. I raised some cash today before I departed and intend to closely examine the market’s tonight to formulate a strategy to deal with the ongoing “volatility”, which always cracks me up because it’s double...Read More

For the week, secular stocks gained 3.5%, basically old man stocks like Tootsie Roll (TR) and Jelly preserve (SJM) stocks went up. Investors tripped over themselves to get involved with CANNED SOUP plays, via CPB. TLT was barely up (+0.5%), which denoted investor fears of stagflation still persists and the Japanese yen rose +2.25% with...Read More

Gents, Ladies,I was out most of the session traveling to Florida, the land of morons and Bucc-ees (apologies to my FL clients but you know I am right). Whilst en route (we were driving), markets careened lower, which is typical for me whenever I travel. For those who have read me over the years knows...Read More