Morning Comment...Stock Poised For Another Leg Lower....June 14, 2019 - BTFNow

The last two days have been ridiculously quiet in the market place…as the composite volume has been just been just 2.47bn and 2.5bn shares on Wednesday & Thursday. Only the Friday before Memorial Day has seen lower volume all year! We did, however, get a little more movement in the market place yesterday than we saw on Wednesday…as the major averages rallied about 0.5% (and the Russell 2000 popped just over 1%)……The 4.5% bounce in oil got a lot of the credit for yesterday’s mild advance in stocks…as the stock market has had a pretty strong correlation with this commodity over the years.

However, the reason the correlation is usually a strong one is because the price of oil is frequently associated with the DEMAND. If demand is strong, the economy is strong…and thus the stock market advances along with oil. The opposite is true if demand is weak. HOWEVER, when the price of oil goes up due to an issue of too little SUPPLY (like it was during the 1970s), then the higher price of oil becomes a bearish development (as costs in the economy rise…WITHOUT a pick-up in demand). Therefore, we’re not so sure that investors should be getting excited about any rise in the price of oil that is associated with a slow-down in supply (due to issues in the Gulf).

As for the stock market, its rally has stalled-out this week, but it has not rolled-over in a compelling way….as the S&P remains above its 50 day moving average (50 DMA). However, it is becoming increasingly obvious that the market is holding up due to the expectations that the Fed will come in and buoy the market…even though the stock market weakness ...

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Morning Comment...Ford has a lot of potential upside over the next 18 months...June 13, 2019 - BTFNow

For the first time in many, many weeks…we had a VERY uneventful day in the broad stock market yesterday. Sure, we’ve had plenty of days when the stock market closed very near the unchanged level for the day ...

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Morning Comment...This Rally is Losing Steam, But the Healthcare Stocks Look Good; June 11, 2019 - BTFNow

The stock market finished the day yesterday nicely in positive territory and the futures are trading higher this morning…so everything seems right with the world. The problem is that the “internals” in the market have not been very good ...

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Morning Comment. June 10, 2019 - BTFNow

Morning Comment....The Dollar is Testing Key Support

Friday’s weaker-than-expected employment report led to a sharp drop in long-term bond yields…and to higher odds that the Fed will cut interest rates this summer. This, in turn, led to ...

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The Weekly Top 10; June 9, 2019

THE WEEKLY TOP 10

Table of Contents:

1) Our call for a bounce worked well...but we don't think it will continue.

2) The Fed has shifted, but not enough to think they'll act before another decline in ...

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Morning Comment...Near term, stocks are oversold.

Below you will find my "Morning Comment" from Monday June 3, 2019. In it, I explained why I thought the stock market was ripe for a sharp bounce. Stocks did indeed rally last week, so this call worked out quite ...

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A+ analysis from a great investor!
         
Matt delivers expert information, in detail. I look forward to his mornings comments.
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