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Good morning Fears of an overheating economy, rising interest rates and some hawkish comments from the fed sent stocks tumbling yesterday and technically we took out some key moving averages in several sectors and indexes. Tech and semiconductors were hit hard yesterday with...
Read MoreGood morning Concerns of an overheating economy and the potential for an overly aggressive Fed is weighing on equities in premarket. Oil is pulling off of a big inventory build reported yesterday. Volatility is..
Read MoreGood morning Equities are gapping in premarket ahead of new ISM and PMI data at 10 am ET. Concerns over Italy have eased a bit as Italy government plans to cut its budget deficit. The petroleum status report comes out @ 10:30 ET and could impact oil and energy names. The dollar is basically flat while oil and gold are both up slightly in premarket. The action has been pretty choppy this week..
Read MoreGood morning We had a gap up day yesterday and those can be challenging days to trade. I did very little yesterday on terms of trades. The cannabis sector is where all the action was in just a handful of names like TLRY NEPT IGC and NBEV. The space could remain volatile and in play leading up to legalization in Canada which occurs on the
Read MoreHappy Sunday With the end of the quarter, the fed announcement and a boat load of economic data to absorb with some political drama sprinkled on top, the indexes struggled last week. Throughout history there have been some notable crashes for the markets in the month of October IE 1929, 1987 and 1997. There will likely be some chatter about that as ...
Read MoreGood morning We close out the month and the quarter today and in pre market equities are slightly lower. We had a tremendous amount of data this week along with the Fed announcement to absorb. We have another data set today that could impact equities with personal spending,.......
Read MoreGood morning The Fed raised rates yesterday and removed the accommodative monetary policy verbiage from the statement. Markets initially reacted by moving up and as Fed Chairman Powell ended hit question and answer session the markets were lower. Equities in premarket are flat to up slightly along with the dollar and oil while gold is flat. One potentially concerning development for the equity markets
Read MoreGood morning It is Fed day so the markets could be impacted. I think that the rate increase is expected and probably already baked in. As usual the focus will be on what is said in the statement and how aggressive or timid the Fed sounds about the economy and further rate increases. If the Fed sounds hawkish that could give a boost to the dollar and if he sounds dovish then we could see the dollar weaken. A strong dollar could put ..
Read MoreGood morning The strategy I laid out this weekend worked out pretty well yesterday as markets pulled back and the small energy and oil names caught some momentum. Trump will be addressing the UN today and Iran could be one of the topics he focuses on which could add to oils recent gains.
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