Its definite. But, and this is a big but, you know what . I think its time that we just shade things i think we should take a little off the table. Why do i say that . Its not just because when i walk around downtown manhattan, im hearing more hey, make me some money cramer catcalls than i am booyah or i love the show sho sho shout outs its all the issues that have dogged the market suddenly seem to have gone away. So im feel like we got to kind of pan gloss moment here pangloss frankly, it means that were in a position let me just say the pangloss sellers, thats not what im talking about, the great vineyard in sonoma i like that. Were not talking about delicious cabernet here. Were talking about voltaires pangloss all is for the best isnt the best of all possible worlds pangloss whenever we start getting that vibe, it makes me want to sell something, because the best of all possible worlds nevertheless first of all, lets talk about whats going on right now, right now because there are
Shift absolutely in the way the market views the relationship between the white house and the economy. And therefore the stocks. It was an amazing transformation which continued today, even as the dow gained 40 points, s p declined 0. 14 and nasdaq advanced 0. 54 . Nice little recovery for the nasdaq. Looking ugly there. We spent all week talking about the markets reaction to trumps election. How it went from being shocked and dazed and confused and scared to suddenly bullish in the blink of an eye, with investors reaching for stocks that benefit from aggressive Economic Growth while they dumped the nogrowth gridlocked names. The sea change was radical because the two candidates were radically different. Clinton stood for more regulation, higher taxes, and if she won, shed have a Republican House of representatives, which would have meant for gridlock. Thats what the stock market had been banking into going into the election since the polls showed clinton way ahead. Trumps a real estat
Which continued today, even as the dow gained 40 points, s p declined 0. 14 and nasdaq advanced 0. 54 . Nice little recovery for the nasdaq. Looking ugly there. We spent all week talking about the markets reaction to trumps election. How it went from being shocked and dazed and confused and scared to suddenly bullish in the blink of an eye, with investors reaching for stocks that benefit from aggressive Economic Growth while they dumped the nogrowth gridlocked names. The sea change was radical radically different. Clinton stood for more regulation, higher taxes, and if she won, shed have a Republican House of representatives, which would have meant for gridlock. Thats what the stock market had been banking into going into the election since the polls showed clinton way ahead. Trumps a real estate developer, though. He develops real estate. What does he stand for . Lower taxes, fewer regulations, borrowing money to build infrastructure. When trump won, we had to throw away many of the s
Getting better . What if the Global Economy is truly gaining momentum . Hey, thats what were starting to hear, but few people seem to be listening. Im certainly paying attention, though. Especially as the dow reaches an alltime high for the first time in over a year. Hallelujah the s p sets a record close for the second day in a row. That was easy. Bold claim. Things might be Getting Better but how about i give you some evidence . I always tell you to listen to that alcoa conference call. So many uses. Alcoa is plugged into so many end markets. Better than any economist at any Brokerage House thats ever going to give you. Last night alcoa painted a truly remark bl picture of a world on the move. Ceo klaus klein fell has been talking about illuminizatoin. Replacing steel in car parts, expected to grow at a 20 climb at least until 2020. Kle kleinfeld knows about autos. Unequivocally bullish. Strong demand not just behind us, but ahead of us. Much more important, though, remarkable reads
Got my time spot back. The nasdaq advanced just 1. 2 still this market is resilient. Oil declined 3 today. Some of that strength comes from per speculation in response to pfizers acquisition of medi vation. The game is on to see who its going after next, could it be sell gene . Insight . It already owns 22 of another. The love for tech seems to know no bounce. After renaissance took advantage of a stronger yen and bid for intra cell. But a lot of it is the gusto for expensive tech spots because of a Bright Future of amazon and facebook. In fact, its amazing to see any gains at all after oil took a big dive. Plus, were in suspended animation as we await Janet Yellens speech. Now i got to tell you, i dont like it one bit when i got to jump to q. But if yellin says in her speech that we need a rate hike soon, this market will get hit. If you are in a training mode, be alert that he could hurt but tough talk. Problem as always, is that the job growths excellent, but wages are stagnant, so