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Good morning We are seeing some weakness this morning in equities after yesterdays continuation from Friday's bounce. We have some moving average resistance overhead for several sectors and indexes. I mentioned in yesterdays market wrap video that it may be a bit premature to think the volatility is over. We may not see the extremes we experienced last week but we are still likely to see some back and forth in the markets as we await the next big catalyst
Read MoreGood morning The volatility continues in equities as we are looking at a gap lower this morning with gold basically flat, the dollar slightly higher, & oil slightly red. I think it would be more healthy for the markets to go test the recent lows than to have the markets rip back up to all time highs but it really doesn't matter what I think. The markets are going to do what the markets want to do. Will the proposed government funding bill sounding like it has a path to approval aerospace defense stocks could be a sector to watch. In the 15 minutes since I started writing the blog post we have had a complete reversal
Read MoreGood morning The volatility remains as equities are gapping lower in premarket. The dollar is slightly higher with gold and oil is slightly red. We do have another potential government shutdown looming in the shadows and that could keep the markets under pressure. We are still in earnings season with the majority of major names already reported. Crypto currencies are getting a bounce and the related names are moving with them. Be careful if you are playing the triple levered ETF volatility plays
Read MoreGood morning The bear market has begun (according to Dennis Gartman) equities are gapping down and sentiment is turning very negative on the financial networks. Oh how quickly the tides can turn. The ETN XIV blew up after hours showing us how quickly these derivative products can be wiped out. They XIV was a product that was essentially short volatility and when we had the spike in volatility yesterday did what it was designed to do. I have said many time that these levered ETF and ETN products are meant to be very short term trading products and have often warned about holding any of them overnight > especially the double and triple levered products. Please make sure you understand what you are trading before taking a position. Am I scared? HELL NO! I would be scared if I didn't have cash to buy stock that are going on sale! If I had to sell stuff for a loss to buy stuff I would be mad. I have always said that cash is a viable position and this a very good example of why. Do I agree with Dennis? ...........
Read MoreGood morning Weakness continues in equities as we are looking at a gap down. The faster and deeper this pullback is the more likely, in my opinion, we get a hard and violent snap back. This action is going to create great opportunities in great stocks.
Read MoreGood morning We have mixed results coming from earnings on some big names as the markets are digesting and incredible first month of 2018 for the bulls. As we move into the second month of the year equities are gapping down with the dollar and gold also slightly red while oil just slightly green. We are getting some economic data
Read MoreGood morning We are seeing a little bounce in premarket after last nights State of the Union. Equities are higher with gold also catching a bounce with the dollar and oil both slightly lower. We get the Fed statement today and it could impact
Read MoreGood morning I said yesterday that because I liked the way the technicals looked for many sectors and the markets that it could be the reason the markets decide to pull back and shake people out. This morning we are seeing some follow through of yesterdays weakness. I do not see this as a the beginning of a bear market but an opportunity to get into stocks that I have been waiting patiently to a see pullback in price for more attractive entry points. This could be that opportunity and I hope it lasts for longer than a couple days. However if earnings and guidance come int extremely strong throughout the remainder of the week I would think the bulls will quickly retake control.
Read MoreGood morning Equities are slightly red after some comments coming out of China. The dollar is up slightly as gold and oil are both down in premarket.
Read MoreGood morning Gold and oil are up slightly on a continuing weak dollar as equities are up slightly this morning. We are starting to see some signs of increased volatility and some indexes showing signs of exhaustion. We have been overbought in a lot of sectors and if we are going to continue this bull market we need to have healthy pullback. The pull backs and consolidation periods provide the fuel for us to move higher over the long run.
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