Morning Comment: Russell 2000 testing important support


Trump has egg on his face

Well, the Great Negotiator has egg all over his face. President Trump gave China something for nothing when he delayed his announced tariffs…and China paid him back by shoving it right up his butt. Instead of announcing the purchase of buying more agricultural products, China has stated that they have “no choice but to take necessary measures to retaliate” against any new tariffs from the U.S. (even if some/many of them are delayed). Of course, the President has decided to blame the Fed for everything, but that excuse is beginning to run thin.

Yes, China's trade policies need to change

Don’t get us wrong, we do believe that the President’s general policy towards China is the correct one. Something does need to be done about China’s cheating on trade. We can argue about which strategy would be the correct one to change China’s actions, but that’s a moot point right now…because the President chose the “tariff route” a long time ago. That’s what we have whether we like it or not. However, the President can’t have it both ways. He wants to impose tariffs that will hurt the global economy…and yet he also wants the stock market to rally. It doesn’t compute.

The "timing" of Trump's fiscal policies are hurting him

The President is the one who deserves a lot of the blame for the recent decline/slow-down (decline in the markets/slow-down in the economy). He is the one who decided to “front-end” his fiscal policy plans. So instead of having his fiscal stimulus kicking-in during the third & fourth year of his first administration (like every other president of our life-time has done), it kicked-in during the first two years…and the Administration is now caught with its pants ...

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Morning Comment: It's Rarely Different This Time


  • Trump wimps out again.
  • More head winds than when Trump's last flip-flop took place.
  • The lag between "inversion" & recession is irrelevant.
  • It's rarely "different this time."


Trump wimps out

President Trump has backed-off once again on his ...

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The Weekly Top 10: Lower-lows Ahead.


  • A major shift has taken place in U.S. foreign policy that will impact global markets for years to come.
  • The recent bounce in the stock market is a "dead cat" bounce and lower-lows are on the way.
  • WHY ARE ...
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Morning Comment: Something HAS Changed.


The first low is rarely the ultimate low when we get "new-news".

The market has seen some wild swings in the last week…and the recent bounce in the stock market has been quite impressive. However, we need to keep things ...

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Morning Comment: Chips Stocks at Key Level.....Ditto for Gold


  • Chairman Powell seems like a deer caught in the headlights
  • SMH down 5%, next move will be critical
  • Gold looks great longer term, but.......


Chairman Powell seems like a deer in the headlights

Chairman Powell (and the Fed) don't ...

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Morning Comment: Apple, Netflix & Boeing all face key technical levels


  • Quiet day today until we hear from the Fed.
  • Apple's chart looks excellent.
  • Netflix stands at a critical technical juncture.
  • Boeing needs to hold $340 to avoid further problems.


It should be very quiet today until the Fed's ...

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Morning Comment: European Banks on the Brink?


What do they know that we don't know?

Twice now…over the past several weeks…we’ve asked the question, “What do they know that the rest of us don’t know?”…..We first ask it when the Fed sent out definitive ...

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Morning Comment: Big Week...and Bitcoin Testing KEY Support


"Summer doldrums" are very unlikely this week

You’d think that the last few days of July and the first days of August would be prime-time for the “summer doldrums,” but this year, it has the potential to be one ...

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The Weekly Top 10: Some Big Bearish Bets in the Options Market


THE WEEKLY TOP 10

1) Another great week for stocks, but the S&P is still at risk of “failing” at this level (once again). Although one leadership group has been able to play catch-up, three other important ones have ...

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Tesla's Chart Looks Horrible


Some important technical damage has been done in TSLA's chart

Every once in a while we hear the phrase, “This development is a dagger to the heart of…..” We hear it in politics, in sports, and even sometimes ...

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Morning Comment: Big Bearish Bets in the Options Market


  • Yesterday’s decline came on jump in volume, but it was far from a disastrous day.
  • The recent action in the semis and banks have made us more constructive on the market.
  • HOWEVER, there have been some new concerning developments this ...
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Morning Comment: Yield Curve Showing Signs It Could Steepen


  • The stock market’s nice rally from early June has actually flattened out quite a bit recently.
  • At some point, renewed “trade talks” are going to be viewed as the boy who cried wolf.
  • Semis breaking slightly above old highs…Any further ...
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