Markets with the best three months in decades. The dow saw the best quarterly performance since 1987 the nasdaq had its best gain since 1999 and ended the quarter up 30 take a look at the small cap up 25 since april 1 the best gain since the First Quarter of 1991. Because the First Quarter really stunk up the place the dow coming off the worst first haflt year since the financial kri sis. The s p still down 4 on the year yesterday was something to watch. We had all three major averages which did close for the month of june in positive territory you are looking at s p 500 closing above 3,100 and watching the nasdaq close above 10,000. Seeing a slight pull back. S p futures down about 10 points and nasdaq off by 25 weve been keeping track of the treasury market. The 10year has been below 0. 7 . Now sitting at 0. 684 . Crude oil prices were a huge point of concern earlier in the year up 40. Well see what could help the senate has voted to extend the ppp Bailout Program to august 8 giving
Market clearly arent ready for. And that was what todays decline was all about, the dow tumbling 394 points. Nasdaq tumbling 2. 54 . The rate hikes coming. Perhaps as soon as the feds meeting later this month. And i think you need to be ready for cash when it does, because i dont think this selloffs over. You need to understand the risk world here. It is true. It could hold steady. You could miss 2 , 3 , 4 rally. But considering that janet yellen and Stanley Fisher talked openly of the need to raise rates. And then Eric Rosengreen joined the course. I think the risk is too great to risk a possible 2 gain. I dont know why you would want to do it. Weve been lulled into accepting the proposed brexit volatility is gone. That, too, concerns me. When it comes back as it did today, its pretty obvious investors arent prepared. You know what they do, they panic. Nobody ever made a dime panicking. I dont want to you panic, thats why you need to be prepared. You can follow along with my Charitabl
Right . This quarter did nothing it did nothing at all today, at least, the dow climbed 135 points. S p gained. 7 . Nasdaq vaulted 1. 04 . Wow, breaking that streak, huh . You know what, i say good riddance to the first quarter. Because this market slaughtered some of the best highest growing companies and saluted the down and dirtiest industrials and techs that have yet to show any real growth. Im telling you. Now, what they did, they went out of the good and into the bad, and im tired of it. But thats the way it is. Ill talk about a rotation later. No matter, nobody i know was really talking about much about the market today anyway. They were talking about a new book. A book by one of the great writers of our time Michael Lewis entitled flash boys which asserts that highfrequency traders have rigged the market. Rigged the market against you. Do you know what i found was most shocking about this book . How about the fact that anyone finds it shocking in the first place. If you watch t
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