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“If stock market experts were so expert, they would be buying stock, not selling advice” Norman Ralph Augustine Good morning Equities are getting hit hard in premarket as news of the Trump administration announcing last night a potential fresh round of 200 Billion in new China tariffs being released soon. Markets around th globe are selling off as trade war fears escalate and the bearish sentiment continues to increase. Gap days can be challenging. However, we should keep an eye on some of the short biased ETF's and volatility. UVXY TVIX TZA SQQQ SPXS do not chase and recognize these should be considered very short term trading vehicles.
Read More“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.” – Jesse Livermore Good morning After yesterdays gap up and follow through we are looking at another positive open for equities. Gold is down while oil and the dollar are both up slightly.
Read MoreHappy Saturday I have never been one to try and make bold predictions about the economy or the market direction in the long or short term. As we all know the markets have a tendency to make those that try to make those types of predictions look like fools. Just ask Dennis Gartman who just this week made the bold call that we are officially in a bear market and to sell and go short accordingly. It was almost as epic as his call that oil would never see 50 dollars a barrel again or at least not in his lifetime. With all due respect, I think Mr Gartman should consider a new line of work or at the very least stop making bold calls and if he feels the inkling to do so, he should probably call out the exact opposite of what he is thinking.
Read MoreGood morning The "trade war" has officially started after the first batch of tariffs have kicked in for China. The question is if this will escalate and really do some damage to the global economy. Equities are slightly lower in premarket as we await the jobs number. If the number comes in extremely strong we could have a good news is bad news scenario. Wage inflation is a concern and if the Fed needs to be more aggressive with rate increases at a time when there is a tremendous amount of uncertainty with the ramifications of a global trade war. Oil gold and the dollar are all slightly lower. The gold miners have been bouncing recently and could be worth at least having on your radar.
Read MoreGood morning I hope you had a wonderful Fourth of July holiday. Equities are up in premarket ahead of the FOMC minutes later today. Gold is up slightly, oil is basically flat and the dollar is down slightly. It could be a choppy day out there today as we head into a China's tariff retaliation.
Read MoreGood morning We have a shortened trading session today the markets will be closed @ 1 PM ET. Equities are up slightly in premarket with gold and oil while the dollar is slightly lower. It will likely be a low volume uneventful day for the indexes but there could be some decent trading opportunities in individual names. I want to wish everyone a safe, fun and Happy 4th of July! Enjoy the time off with your friends and family.
Read MoreHappy Sunday We have a shortened trading week ahead with an early close on Tuesday with the July 4th holiday on Wednesday. I am not expecting it to be a very exciting week of trading but we never know what may happen. There are several events taking place with regard to the "trade war" with Canada and EU imposing retaliation....
Read MoreGood morning Equities are up in premarket as we look to close out the month of June. The dollar is slightly lower with oil and gold basically flat. Financial stocks could be worth watching as all but one passed the Fed's stress test and capital plans. The sector has been down 12 sessions in ..
Read MoreGood morning Equities are bouncing slightly in premarket as gold continues to its grind lower and oil is up slightly. I mentioned yesterday in yesterdays market wrap that we could see oil stall or pull back after the recent run but we could also see momentum continue in the space. GDP numbers come out today and could set the tone for the markets today. GDP came in much...
Read MoreGood morning Equities are lower in premarket as it appears we are getting a bit of a reset in prices which should be a good thing once we find some support. Where that support may be is anyones guess. It could be the 50 sma for some indexes and sectors or it may be the 200 day only time will tell. Trade war fears are still front and center and the China market has officially entered bear market territory closing 20 percent below its recent January high.
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