Morning Comment: Commodities Poised for a Breakout???


The positive news on a vaccine out of Moderna yesterday fueled another nice rally in the stock market...as the DJIA, S&P 500, Russell 2000 and the Nasdaq all rallied strongly. (No, the Nasdaq did not rally as much as the others, but it was still up 0.8%.) The breadth was quite good...at more than 5 to 1 on both the S&P 500 and the NYSE Composite Index. Also, the market closed on its highs for the day...with 10 out of the 11 S&P groups closed in positive territory. (The healthcare group closed very slightly in negative territory.) Finally, the “Dow Theory” followers were quite happy...as the DJIA and the DJ Transportation Index both closed at record all-time highs!

Not everything was bullish, however. The composite volume was a whopping 42% lower than last Friday (when Pfizer made its own announcement), so the enthusiasm was not quite as strong during yesterday’s advance. (Actually, the lower volume probably had more to do with the lower level of activity from the quant funds...who got clobbered a week ago. Either way, lower volume is not what you want to see.)

More importantly, we’d also note that the lack of movement in the “other markets” (fixed income, currency markets) that we highlighted in the morning yesterday...continued throughout the day. Therefore, they are some signs that the rally might actually be running out of steam on a very short-term basis. (Of course, that’s a lot easier to say now that the S&P futures are trading 20 points lower this morning...but it’s something we’ve been thinking could/should take place for a couple of days.)

We certainly do not want to sound like we’re looking for a significant decline right now. We’re just saying that several signs from yesterday’s broad action within all of the markets are ...

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Morning Comment: A Look at the Charts on Tesla (TSLA).


The action in the stock market was the mirror image of Monday’s action. That day, a big morning rally was reversed in the afternoon...and the market gave back much of its gains by the end of the day. Yesterday, a ...

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Morning Comment: Veteran's Day.....Masters Predictions.

Even though the S&P closed the day pretty much unchanged yesterday, it was still a wild day in the stock market yesterday. Despite that benign move in the S&P 500, the DJIA rallied almost 1% and the Russell rose 1.8%...while ...

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Bank stock traders: Remember, the bond market is closed tomorrow!

I just wanted to send out a very quick note about the bank stocks this afternoon. I have turned bullish on the group...especially with the break-out in the KBE. However, for those who like to trade quite actively...and like to ...

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Morning Comment: Can Banks & Small-caps Finally Outperform?


The domestic futures and the overseas markets are all trading substantially higher this morning...on the news that Notre Dame finally won an important football game...and the excitement surrounding this week’s Masters Golf tournament. Okay, okay...the fact that PFE announced that ...

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THE WEEKLY TOP 10


THE WEEKLY TOP 10


Table of Contents:

1) Our belief in a nice year-end rally remains intact.

2) However, next year will be much tougher for this very expensive market.

3) Many non-FAANG tech stocks actually have more momentum than ...

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Morning Comment: A


Whenever there are elections or primaries, we like to spend time flipping around and listen to what different networks are saying. Based on what we’ve heard over the past two nights, the support for Donald Trump from Fox News is ...

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Morning Comment: Sen. McConnell Helps the Rally


We agree with the consensus that says the likelihood we’ll get a split government once the final results are in from the election is the main reason the market rallied strongly yesterday...and why the futures are trading a lot higher ...

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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 ...

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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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