Morning Comment: Watching AAPL, MSFT & AMZN very closely


It is interesting to note that the stock market was already giving back a lot of yesterday’s midday gains before the market closed...and before the earnings from several high profile tech companies. Don’t get us wrong, the decline over the last hour and a half of yesterday was not a disaster, but the S&P did give back about 45% of its gains by the close. We’d also note that the breadth on the S&P 500 went from almost 7 to 1 positive at 2:30 to just 2.4 to 1 positive at the close of trading.

The disappointing earnings reports out of those tech names (led by AAPL and AMZN) have the S&P futures trading down by about 30 points as we write...and the Nasdaq futures are down by more than 1%. However, the bond market is not reacting very much to this decline...which has been true all week...despite some pronounced weakness in the stock market. This does not surprise us very much. During the severe decline of the spring, bond yields dropped significantly in a “flight to safety” move. That made perfect sense...as people worried about how many companies might go out of business due to the global pandemic. This time around, people are worried about whether the results of the election...or the inability of Congress to pass a new fiscal plan...or further lockdowns in Europe & the U.S...will dampen economic and earnings growth. So the concerns are not quite as serious.

Let’s face it, the disappointing earnings we got from several tech companies last night is certainly not raising concerns about whether any of them will survive going forward. In fact, 99.9% of investors KNOW that all of these tech companies will THRIVE going forward. They are GREAT companies with GREAT futures. The only question right now is whether ...

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Morning Comment: Europe Breaking Key Support Levels


As a reminder, I will be presenting at the MoneyShow's Virtual expo today at 1:20. Click here to sign up for this conference for free. Thank you and I look forward to the Show!


The last thing President Trump wanted ...

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Morning Comment: A Rise in SAP-type Announcements Will Be Quite Bearish


  • A rise in SAP-type announcements will be quite bearish.
  • CAT is overbought near-term, but any eventual break of its 2018 highs will be VERY bullish.


There is no question that yesterday was a rough day for the stock market...as the ...

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Morning Comment: What is SAP telling us?


As a reminder, I will be presenting at the MoneyShow's Virtual expo in this Wednesday. Click here to sign up for this conference for free. Thank you and I look forward to the Show!


Well, we have just over a ...

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THE WEEKLY TOP 10


I was out of the office and out of contact with the markets on Thursday and Friday in order to attend a memorial service. Therefore this weekend’s piece will be quite a bit shorter than usual...and there will only be ...

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Morning Comment: Yields testing resistance....NFLX testing support.


The market finished the day with a decent gain yesterday, but it closed well off its early afternoon highs. The gain also came on lower volume and mediocre breadth (2.4 to 1 positive on the S&P 500)...so the action so ...

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Morning Comment: LA Dodgers!


For the first time in the history of Major League Baseball, a team has come back from a 0-3 deficit to win their League’s Championship and move-on to the World Series. That’s right, the LA Dodgers were able to come ...

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THE WEEKLY TOP 10


Quick Note: I will be participating in the next "MoneyShow Virtual Expo" that runs from October 27-29. I will be presenting early in the afternoon on October 28th and I hope you will join me. They have a fabulous line-up ...

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Morning Comment: Bullish "internals" this week.


We got more evidence yesterday that this week’s “breather” in the stock market will be followed by a further rally into the election. We’ll still have to watch the action in the market for a couple of more trading days, ...

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Morning Comment: Keep Watching the Dollar


We had been expecting a pull-back in the stock market after its nice two-week rally, so the decline in the market yesterday was not a surprise. In fact, it can be seen as normal and healthy. Of course, if the ...

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Morning Comment: NY Sports Teams Have Become Irrelevant (and that's not good).


It should be a quiet day today...as the bond market is closed for Columbus Day (or whatever the call it now)...and a lot of market participants (both bond & stock market players) have taken a three-day weekend. To be honest, ...

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Morning Comment: Next Week Will Be Very Important For The Stock Market


Our apologies for not publishing yesterday, we had a power outage and it took quite a long time to get back up and running yesterday. Anyway, our feeling is that the only thing that will really be remembered from the ...

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