Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

TGIF – Closing out a Weak Week for the Markets

Not just a weak week but a weak 45 days since February.

After testing our 30% line on the S&P 500 at 2,860 at the end of January, we plunged down to our 20% line at 2,640 in early Feb and now, 5 weeks later, we have struggled to hold the 25% line, which has now become the 50-day moving average as well at 2,750.

The annotation on the chart is not our 5% Rule™ but a simply Fibonacci retracement and it shows you what a cleanly technical move the market is making.  That, in turn, indicates that the majority of this trading is being done by robots and those robots are not trading with emotion or enthusiasm – they are just trading their pre-programmed ranges and it won't take much of a change of human hearts to send the whole thing crashing back down another 10% from here.  

I told CNBC in Japan earlier this week that my number one Global concern was a Trade War and now, in addition to steel and washing machine tariffs, we (and NATO) are sanctioning Russia and Russia is retaliating against us and now Trump is readying "sweeping tariffs and investment restrictions on China" – this is what a trade war is folks – no one declares it, it just happens step by diplomatic step.  Suddenly, among Conservatives, "Globalism" and "Globalists" have become bad words, words used to describe their enemies the way they used to say "Communist" and "Socialist".  These are very dangerous times, folks.

Image result for globalism cartoon

Image result for globalism cartoon

This myopic, anti-Progressive, anti-progress, protectionist view of the World comes right out of the early 1900s and in fact, the first "America First" Committe was formed as an attempt to keep the US from "meddling" in World War II and was "characterized by anti-semitic and pro-fascist rhetoric."  Trump's form of Fascism isn't anti-semetic yet, just anti-Muslim and anti-Mexican and anti-African and anti-Poor so, as long as you aren't one of THOSE – you're good – for now.  

Hoover's America First protectionism and tariffs landed us in the Great Depression and Hoover, like Trump, literally promised his base "A Chicken for Every Pot" saying, right there in the history that we tend to forget and repeat: "Under higher tariff and lower taxation, America has stabilized output, employment and dividend rates."  "Republican prosperity is written in factory chimney smoke, written in the peak value of stocks and bonds… silenced discontent…"

It would be funny if that wasn't the GOP platform of October 30th, 1928 – one year before the economy collapsed and it would be ironic if it wasn't the GOP of March 16th, 2018 – indicating we have learned NOTHING in the past 80 years.  Well, I take that back, we have learned something, the Rich became much, much richer in the economic upheavals of the early 1900s, reaching peak income inequality in 1929 – a record that has only just been surpassed this year.  

Political Ad for Herbert Hoover called "A Chicken for Every Pot"

As a country, the US fares pretty poorly when it comes to income inequality: according to the CIA Factbook, the US has the 40th highest level of inequality out of 150 countries — around the same level as Jamaica, Peru, and Cameroon.  Analysis from political geographer Richard Morrill showed that areas like the South, where income inequality was more pronounced, also have high minority populations. 

Image result for income inequality in america 2018The US has gone from being the World Leader in income equality in the 60s and 70s to 40th place in 40 years.  Trump's tax plan is setting us up for another parabolic move in Top 10% wealth compared to the bottom 90% – like the one we had after Reagan got that ball rolling in the 80s.  We're in the Top 10% so YAY!!!, I guess.

The big question is, how poor can the poor get before the system falls apart?

Image result for income inequality in americaAnd let's not delude ourselves, every single Dollar gained by the Top 1% (people earnings over $615,800 per year) comes right out of the pockets of the Bottom 50% to the point where the Bottom 50% now earn less than 12% of the National Income while the Top 1% earn 20% and the rest of the Top 10% earn another 10% so that's 30% for 10% of the people (3 shares each) and 12% for 50% of the people (1/4 share each).  

And the funny thing is that, even in this example, I end up talking about the Top 10% but the Top 10-2% are splitting 10% – that's about 1 share each while it's The Top 1%, with their 20 shares EACH, that are completely out of control and causing ALL of the inequality.  But when you hear them talking about unfair taxation and estate taxes that only affect people with more than $10M, they point their finger at YOU and tell you that YOU are going to be taxed if we try to make the system fair when YOU are only in the Top 2-10% and making 1/20th as much as the people who want you to vote for them so they can reduce the tax burden.

Sadly, it works.  The Top 1% candidates tell you Government is evil and wasteful and is sqandering your money helping poor people or whatever and they get you to vote to cut all the social welfare programs the Government needs tax money for – even while drastically increasing military spending.  In the end, the poor get poorer and the rich get richer.

Image result for income inequality in america trump tax

The real problem with giving the richest 3M Americans another $90,000 ($270Bn) per year in tax breaks is that it then increases the deficit 317M of us have to pay back by, you guessed it – $270Bn.  Divide $270,000,000,000 by the 317M of us who didn't get $90,000 and that's $3,000 EACH that we have to pay to subsidize the tax breaks for the Top 1%.  Well, those of us in the Top 2-10% can certainly afford $3,000 and those of us in the Top 2-4% are even getting a $3,510 tax break of our own so we end up $510 ahead!  America is truly great again...

For the rest of the population though, these tax cuts are a net loss and, though it doesn't come directly out of their pockets, the increase in national debt pressures rates to go higher and devalued the Dollars they have and so they find themselves a little bit poorer – despite the extra few hundred dollars they get to keep for the year.  

Like China, our US Corporate Masters don't care how much the people of their own country are suffering or how awful their working conditions are, as long as they have access to cheap labor and low taxes.  After all, they sell their products to the World, not just US consumers and the Top 10% of the Planet Earth is 800,000,000 consumers with plenty of money to spend.

As to the other 7.2Bn suckers – let's just hope they don't realize how badly we are screwing them over and revolt! 


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!

Comments (reverse order)

    You must be logged in to make a comment.
    You can sign up for a membership or log in

    Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

    Click here to see some testimonials from our members!

  1. Patterns all over – triangle thingy, double top, spitting cobra! Take your pick…

  2. Still in Boston at the conference – no time to post!

  3. Phil

    What do you think about /KC action here?

  4. Overnight futures markets very quiet overnight !!! Is it the calm before the storm?

  5. ~~QCOM 5.7% (higher on reports of potential buyout~~

    Qualcomm  takeover speculation is pushing semi / tech names modestly higher.



    ~~Kodak rallies off solid full-year guidance.

    I'm short a whole bunch of July $5 puts.

  6. albo - 

    QCOM – this is a joke.  One buyout was banned due to national security reasons.  Who wants to risk buying these guys now?  

  7. Good morning!  

    Must Hold on the NYSE is not holding.  Watch our for Nas giving up the 30% line at 7,020 but now 7,065 so not too much danger today.  RUT has to take back the 10% line at 1,584, of course – any time you are adding red boxes to the Big Chart, you are in a downtrend (that's why they are red!).  

    As StJ notes, patterns, patterns everywhere but no clear direction at all.

    /KC/Rayne – As I said yesterday, hopefully it's a blow-off spike down before moving up.  I have 2 long at $118.82 avg.  

    Quiet/Den – If nothing explosive happens, we should drift down a bit into the weekend.

    QCOM/Albo, Learner – Wants to maybe go private so the Government gets out of their face.  

  8. Good Morning.

  9. QCOM – Probably too big to go private.

    Figure I saw for an LBO is 130 billion.

  10. QCOM – The board is already thinking that the money can't be raised anyway.

  11. TUES – Was one of my "dumpster dives" at $1.85 last June.  Sold 1/2 at $3.95.

    Speaking of "dumpster dives", Sold some Aug $5 puts on JILL for $1.15.

    CEO and CFO both bought stock in December at $7.28.  OOPS !

  12. 25,000 rejected again on /YM is a good short and we're lined up with 2,765, 7,085 and 1,585.

    Dollar was way down but coming back a bit.

    /RB got clobbered this morning – should have had more faith!

    • Time to stir the brew. It's quadruple witching day, which refers to the simultaneous expiration of stock-index futures, stock-index options, single-stock futures and stock options, which can lead to higher volatility for markets and more trading volume.
    • The event happens four times a year – on the third Friday of March, June, September and December – but this time around the S&P Dow Jones predicts the rebalancing could force $23.1B of trades, up from around $18.6B a year ago.
    • U.S. stock index futures are fluctuating as investors welcome quadruple witching day, which can lead to higher volatility for markets and more trading volume.
    • Economic data on today's calendar includes housing starts, industrial production, consumer sentiment and JOLTS.
    • "Tariffs could lead to a destructive trade war with serious consequences for U.S. economic growth and job creation," according to Chamber of Commerce President Thomas Donohue.
    • "Tariffs of $30B a year would wipe out over a third of the savings American families received from the doubling of the standard deduction in tax reform. If the tariffs reach $60B… the impact would be even more devastating."
    • "Saudi Arabia does not want to acquire any nuclear bomb, but without a doubt, if Iran developed a nuclear bomb, we will follow suit as soon as possible," Crown Prince Mohammed bin Salman told 60 Minutes.
    • The kingdom already has plans to build 16 nuclear power reactors within 25 years, and the cost of the projects could reach $80B, a huge opportunity for the companies that build and operate nuclear plants.

    • Feb. Industrial Production: +1.1% vs. +0.4% consensus, -0.3% prior (revised).
    • Capacity utilization: 78.1% vs. 77.7% consensus, 77.5% prior.

    Eurozone inflation at 1.1% in February

    • Eurozone flash consumer prices rose 1.1% Y/Y, 0.2.% M/M in February, compared to consensus of 1.2% Y/Y and 0.2% M/M .
    • Core inflation which outstrips excludes energy, food, alcohol and tobacco prices rose to an annual rate of 1.0% Y/Y and 0.4% M/M.
    • The ECB targets a headline inflation rate of close to, but just below 2%

    Charting Jon Gray's rise at Blackstone

    • Away from traditional leveraged buyouts, Blackstone (NYSE:BX) heir apparent Jon Gray – who this month became president and COO of the company – built his career at the private-equity giant by flipping real estate, writes Jason Kelly at Bloomberg.
    • Gray's success comes despite two ill-timed, real-estate bubble bell-ringing  deals: The 2007 $39B purchase of Equity Office Properties, and the $26B buy of Hilton. Both started disastrously, but went on earn profits of more than $20B.
    • “He’s that right combination of somebody you want your daughter to bring home when she’s going on dates, somebody you trust with your money, and somebody with steel balls,” says Thomas Saylak, Gray’s former boss at Blackstone.
    • For now, CEO Steven Schwarzman doesn't appear to be going anywhere, instead focusing on big goals like doubling AUM over the next five years.
    • “I don’t envision sharp turns here,” says Gray. “Steve has said this is like the restaurant business. If you continue to serve good food, your customers come back and new customers show up,” he adds.

    Long-term study results support value of OPKO's 4Kscore prostate cancer test

    • Results from a 20-year study assessing prostate cancer risk in a population of healthy men supported the value of using OPKO Health's (NYSEMKT:OPK4Kscore blood test in men with abnormal PSA levels. The data were just published online in the journal European Urology.
    • The Malmö Diet and Cancer study enrolled 11,506 healthy men aged 45 – 73 from 1991 – 1996 who had no previous PSA (prostate-specific antigen) testing and very limited PSA testing after enrollment. Upon study entry, a blood sample was preserved and the participants followed through December 2014.
    • There were 317 deaths from prostate cancer. The 4Kscore test was performed on 1,223 men diagnosed with prostate cancer and 3,028 controls.
    • Results showed a 7.7% risk of dying from prostate cancer within 15 years after the initial sample was collected in men aged 60 – 73 with PSA levels at least 2 ng/mL at baseline. The same samples were tested with 4Kscore which showed a 13% risk of dying from prostate cancer in the same time frame if the score was at least 7.5%.
    • The company says these "high-risk" men could have received further evaluation, including a prostate biopsy, if clinicians had considered the 4Kscore results. Men with low 4Kscore values (<7.5%) had low risk of prostate cancer death and could have been effectively monitored without unnecessary biopsies.

    Kodak rallies off solid full-year guidance

    • Kodak (NYSE:KODK) soars after setting pleasing guidance.
    • The company expects 2018 revenue of $1.5B to $1.6B and operational EBITDA of $60M to $70M vs. $57M a year ago.
    • CEO update: "2017 was a year of investment in our strategic growth priorities which bodes well for the future… We also eliminated several business initiatives while continuing to reduce cost and drive greater efficiency in the company. We enter 2018 with a stronger growth profile and more productive operations."
    • Previously: Eastman Kodak reports Q4 results (March 15)
    • Shares of Kodak are up 14% premarket to $5.65.

    Baird raises Micron to 70% upside, provides DRAM and NAND guidance

    • Baird maintains an Outperform rating and raises its Micron (NASDAQ:MU) price target from $60 to $100, a 70% upside to yesterday’s close.
    • Analyst Tristan Gerra cites stronger-than-expected memory trends with DRAM contract pricing experiencing a “significant increase” in 1H18. NAND flash price reductions expected more muted in the first half than previously expected. 
    • Gerra expects NAND contract pricing to decline 3% to 4% Q/Q in Q1 of CY18, by higher single-digits in Q2, and by 15% to 20% in CY18. 
    • Micron shares are up 1.3% to $59.62.
    • DRAM peers: Samsung (OTC:SSNNFOTC:SSNLF) and

    • NAND peers: Samsung, SK Hynix, Toshiba (OTCPK:TOSBFOTCPK:TOSYY

      SanDisk/ Western Digital (WDC +2.4%), and Intel (INTC +1.1%). 
    Image result for earth close to mars animated gif
    • Vladimir Putin has announced a mission to Mars next year, followed by manned trips in a bid to colonize the Red Planet.
    • NASA is also planning a mission – for the summer of 2020 – when the positions of the two planets relative to each other are optimal for a landing.
    • Private companies are also in the mix, with SpaceX's (Private:SPACE) Mars rocket likely ready for test flights in 2019.

  13. 03-Jan-18 09:06 ET


    J. Jill target raised to $15 from $11 at Deutsche Bank; Buy  (8.14).

    Also OOPS !    Think its worth a shot at $3.85.

  14. JILL/Not too many around us but looks good.   Small but good growth and I like the fact they aren't over-expanding.

    Year End 28th Jan 2012 2013 2014 2015 2016 2017 TTM 2018E 2019E CAGR / Avg
    Revenue $m 0.000 0.000 0.000 483.4 562 639.1 676.4 689.8 726.8 +15.0%
    Operating Profit $m 0.000 0.000 0.000 39.1 22.7 59.4 68.3     +23.3%
    Net Profit $m 0.000 0.000 0.000 10.3 2.41 24.1 28.1 31.9 35.4 +52.9%
    EPS Reported $ 0.000 0.000 0.000 0.24 0.055 0.55 0.64     +52.9%
    EPS Normalised $ 0.000 0.000 0.000 0.24 0.25 0.42 0.53 0.74 0.81 +33.4%
    EPS Growth %         +7.6 +65.4 +27.0 +76.4 +10.2  
    PE Ratio x           11.5 9.06 6.52 5.92  
    PEG x           0.15 0.12 0.64 0.79

    Debt peaked out at $254M in 2016 and they paid down $33M last year but still had $60M in cash flow.  Options only go out to Aug, unfortunately, as it's a fairly new $200M stock.  Still, you can sell the Aug $5 puts for $1.20 to net in for $3.80 and leave it at that as it's a nice 6-month return or you can add the $2.50 ($2.15)/$5 (0.70) bull call spread for $1.45 and you net into the $2.50 spread for 0.25 and your break-even is about $3.75.  

  15. Phil – Thanks on JILL.

  16. Weakening Internals

  17. Nothing really going on but market moving higher – led by /RTX this time.  

    Oil just blasted higher – now I'm glad I took those profits on /RB!

    Nothing to worry about:

  18. phil, is it significant that /NQ is going down while the others are going up?

  19. /NQ/Lunar – It means you can't take anything seriously today (Quad Witching), that's all.

  20. What was the news on oil???

  21. This summer The Stones will continue to make their way through Europe on their “No Filter” mega tour, and IfOnly has your invitation to meet the mythical rockers in person.


    A pair of premium seats await you at the available tour date of your choice, where you will arrive to the venue early for a special pre-show reception. Then get ready as Mick, Keith, Charlie and Ronnie unleash a half century of unforgettable hooks. From “Sticky Fingers” to “Tattoo You,” The Stones are behind some of the most influential albums in popular music. Witness the band’s signature live electricity from some of the best seats in the house.


    Your incredible evening will culminate with a face-to-face meeting with The Stones themselves. Shake hands with the legendary musicians and capture the moment forever in a photo. You will also take home a custom-picked merchandise bag packed with limited edition concert memorabilia. Funds from this experience will benefit Community Links, an environmental, service-learning, immersion, volunteer, and international educational organization.

    My birthday's in two weeks!  

  22. Oil/Jeff – I see nothing but probably some sort of OPEC rumor.

    $62.50 is a very tempting short on /CL and, of course $1.95 on /RB – I think I'll go one of each for the weekend.

  23. Shorted /YM too at 25,003.

  24. I like that article, really exposing the value of diamonds. We did have some comments on it yesterday, someone compared the diamond with the value of gold. You can sell gold with a click of the mouse.

    Try to sell a diamond, as explained in the article, you got another thing coming


    March 16th, 2018 at 11:30 am | Permalink | Tweet thisIgnore this user Have You Ever Tried to Sell a Diamond?

    By: Edward Jay Epstein

  25. Yeah, I liked that article after yesterday's discussion.  Never been a fan of diamonds since they are simply compressed carbon and now we can make perfectly good ones ourselves instead of digging them up.

    Quck profits on /RB and /CL and quick loss on /YM.  Profits stopped out but will DD on /YM at 25,050 and tight stops over that line.

    By the way Yodi, was catching up on mail and saw you sent a note – sorry I didn't respond yet, been buried and only now going backwards through piles of mail.

  26. Phil, no problem I studied quite a bit and did pass with possible one one question wrong, you need to have over 80% right.

    But thanks anyway.

  27. Good job!  

  28. Haha yes that was me ranting on diamonds yesterday, and just read the article you posted, good detail on the whole scheme!

  29. crs yes I did second your opinion

  30. Saw that Yodi, was glad to see someone intelligent as yourself shares the same opinion!

  31. crs not so intelligent just had to deal with both in my previousl life!!!! De Beers are somewhat like the tailor who sold the clothing to the king ( the king's new cloth), if you know the story.

  32. Diamonds/Crs – Well that article certainly backs you up!  

    Investors affinity for corporate debt may be waning

    • The average yield on corporate bonds is the highest since January 2012, according to the Bloomberg Barclays Index, amid lower orders for new investment grade issues.
    • Usually investment grade corporate bond spreads tighten relative to Treasury Bonds after issuance, but Campbell Soup's recent $5.3B offering saw spread widening after launch.
    • “Investors are starting to be a little more disciplined,” said Bob Summers, of Neuberger Berman. “They aren’t just waving in every deal now,” he added.
    • Others like investment manager Tom Murphy, of Columbia Threadneedle Investments say, "If fundamentals are unchanged and spreads are wider, shame on us if we’re not buying securities.”

    U.S. total rig count rises by 6; oil rigs resume gains

    • The total U.S. rig count rose by 6 to 990, following gains of 3 in each of the last three weeks, Baker Hughes reports in its latest weekly survey.
    • The number of active oil rigs rose by 4 to 800, following last week's first decline in the count after seven weeks of increases, while gas rigs gained 1 to 189 and miscellaneous rigs added 1.
    • A year ago at this time, the total U.S. rig count was 789, with 631 oil rigs, 157 gas rigs and one miscellaneous rig.
    • Tellurian (TELL -4.1%) warns U.S. steel tariffs could raise costs of its $15.2B Driftwood LNG export terminal under construction in Louisiana.
    • TELL has estimated costs for the Driftwood pipeline of $2.3B, plus $1.4B for a pipeline connected to the Haynesville shale play in Louisiana and $3.7B for another connected to the Permian Basin; the company says those costs could rise because of tariffs but does not provide an estimate of how much.
    • Companies building oil and gas pipelines, liquefied natural gas terminals and other infrastructure say the industry's structural steel includes certain types of steel for which there is no U.S. manufacturer, and often comes from China, India, Turkey and Korea.

    • The federal probe into Wells Fargo (NYSE:WFC) has moved beyond the retail unit, and into the bank's wealth-management division, writes Emily Glazer.
    • Issues raised by whistleblowers include proprietary bank investment products which are more profitable for the lender.
    • According to the filing earlier this month, Wells is assessing, “whether there have been inappropriate referrals or recommendations, including with respect to rollovers for 401(k) plan participants, certain alternative investments, or referrals of brokerage customers to the company’s investment and fiduciary services business.”
    • The lender is also reviewing fee calculations with some fiduciary and custody accounts as instances of overcharging have occurred.
    • Shares flipped into the red as news broke, now down 0.8% on the session.

    Crude oil suddenly spikes above $62, reason uncertain

    • Crude oil prices jumped suddenly in late-morning trading in New York, with both international and U.S. benchmarks spiking: WTI now +1.5% to $62.15/bbl after surging as much as 2%, Brent +1.2% to $65.87/bbl.
    • Traders are not yet certain what drove the sudden gains, although some attribute the move to technical trading that saw WTI rise above $62 intraday for the first time since Monday.
    • The market went “from low volatility to wow,” says Phil Flynn, senior market analyst at Price Futures Group, with no specific piece of fundamental news driving the move and adding that “when oil went higher on the week, prices exploded.”
    • (NASDAQ:OSTK) is down 11% after disappointing results in what CEO Patrick Byrne called a "terrible" quarter.
    • Revenue was down 13% for the period, due in part to what appears to be a collapse in search results. Byrne explained on the conference call (transcript) as he posted a slide on SEO.
    • "On the upper left-hand corner of the slide, you will see a – our recent SEO performance. And ours is the red line, Amazon is the mustard, Wayfair is the second from the top. And this is terrible. Remember, this was 45% of our 40%, 45% of our business a year ago. It collapsed. Our SEO collapsed, and especially confusing or probably because we’ve always been great with Google other than hitch here or there, different theory just to what’s going on, this may be due to they switched to a machine learning and algorithm last May."
    • Byrne also updated on the company's cooperation with the SEC investigation and investment in the new Ravencoin cryptocurrency ($0.243).

    Barclays lowers its Apple price target; Apple education event coming March 27

    • Barclays lowers its Apple (NASDAQ:AAPL) price target by $2 to $168.
    • Move comes in a broader note on IT hardware where the firm calls smartphones the only trouble spot with suppliers expecting limited to no unit growth this year.  
    • Firm lowers its EPS estimates for CY18 and CY19 by -4.4% to $11.72 and -3% to $12.44, respectively. 
    • Source:
    • In other Apple news, the company has scheduled a March 27 education event in Chicago. 
    • Key quote from the reporter invite: “Join us to hear creative new ideas for teachers and students.” 
    • Apple share are down 0.3% to $178.18.  
    • Previously: KGI: Mac laptop shipments will grow 16% this year (March 16)

  33. Phil;  What's the general theory on the rig count change impact on /CL?  Thanks

  34. FU FTR!!!!

    FU HMNY!!!

    FU LB!!!

    FU GE!!!

    have a great weekend PSW ;-)

  35. Gartman on bloomberg—bearish call.

    Mkt should recover next week ;-)

  36. Sold 1 /RB at 1.9535

  37. Rigs/Options – More rigs is more drilling and more oil and more supply and lower prices is the general thought process.

    Gartman/Jabob – I guess we're doomed then.  

    • Stung by fan criticism over its monetization approach in Star Wars: Battlefront II, Electronic Arts (EA -0.4%) promises changes to the model that it says are permanent, including never offering paid "loot boxes" in the game.
    • The boxes allowed players to spend money in micro-transactions in order to improve abilities and speed up "unlocking" of major characters, such as Darth Vader. But the random nature of what turned up in the boxes led to criticism that gamers overspend to attain items/abilities and the game becomes "pay to win."
    • Flak from the game's pre-release led EA to temporarily turn off in-game purchases just before its November launch.
    • "Today, we're happy to announce that the Star Wars: Battlefront II Progression update, which includes a complete re-design of the in-game progression system, will begin rolling out on March 21," the company says in a post.
    • It will offer the chance to pay for cosmetic items, but directly rather than through randomized loot boxes, and ability improvements will only come through game experience.

    Talk about nothing going on!  

    Volume is low so far for triple-witching – I think that points to a sell-off when volume picks up but wouldn't bet too much on it as it's a crazy day.  /YM 25,000 is still the best shorting line with tight stops above and then we can try again at 25,050.

  38. We have 25,000, 2,758.50, 7,045 and 1,590 so 2 good lines to watch for confirmation.

    CNBC talking about Fortnite – my kids have been into that for about a month – seems to be getting big.

    There's also this quiz game app called HQ where they log in at the same time to all answer the same trivia questions and all those who answer correctly share a prize pool (some split of the ad revenues) with all the people who also answered correctly.  Apparently they get  100,000 – 500,000 people and $10-25,000 prizes are split among 100-300 winners usually.   It's a really interesting business model.

    Speaking of interesting business models, HMNY getting crushed again! 

  39. ~~

    (Bloomberg) — Dennis Gartman, the veteran investing pundit, said stocks have hit a peak and it’s time to hold cash.



    In Wednesday’s edition of his eponymous newsletter, the economist said he is “calling for a major, multiyear top on the equity markets following the recent volatility and following the reversals to the downside that took place yesterday in the Dow Industrials; the Nasdaq; the S&P and the Russell 2000.” He said the forecast represented a “watershed” moment.

    Eventually he'll be right. 8-)

  40. The HQ game is pretty fun – its something my daughter and I do almost every night at 9PM.  From what I have read they haven't monetized anything yet and are just bleeding cash but they hope to do so soon.  It's usually more like 1 million people a night.  We have made it to 9 questions several times but that is our high score.


    google search  "how does hq live make money?"  and you will see some eye-raising articles

  41. Albo—and OIL will never go above $44 in his lifetime!!!


    Veteran investing pundit…


  42. abob – I forgot about that one from the "Commodities King"  !

  43. J

  44. Here's something to get you psyched for a ski weekend:

    HQ/Jeff – I haven't played yet but my kids want me to help next time.  

  45. Image may contain: 1 person, text

    Image may contain: text

    Image may contain: 2 people, people smiling, text

    OK, no skiing so….

  46. Fortnite – played it as it was free to download and had some fun with it, i think it spawned out of a similar game called "player unknown battle ground" which has gotten really huge as well

    HQ – also play this one, typically prize is only $2500 but they have special nights once and a while with much bigger prize pools, and honestly every time i play they are getting 1 million + people now 

  47. A little dip right at the close but not too exciting.

    Have a great weekend folks!

    - Phil

  48. AP Exclusive: Kushner Cos. filed false NYC housing paperwork

  49. Donald Trump’s remaining handlers spend Sunday trying to keep him from further self destructing

  50. Trump, Flush With Power

  51. Lawmakers quibble over details of $1.3T US spending bill

  52. The staggering death toll in Iraq

  53. Powell’s Fed to show policy caution, shun political friction

  54. Global stocks decline after Wall Street gains