Illnesses and cold and hot . Or are we going to be an economic locomotive pulling the rest of the world forward . The market chose the latter with the dow roaring 209 points. Nasdaq rocketing 1. 03 higher. It did so because our nonfarm payroll numbers were so strong this morning that they swept away a lot of concern that we wont be able to get out of the funk we have been wallowing in for weeks now. A funk accentuated by a hideous beginning by a month of crashes and pit falls, the month that ends on halloween. Welcome back to october. It is good to be back. I cant stress how important this report really is. I have been saying for weeks that if we get a second weak number in a row it validates the previous months slow down and will mean most likely that we could be perhaps headed back into a slow down if not a recession. That was off the table like a bell. Someone rang a bell. Take that story off the table. What is amazing is that we were surrounded by so much that is so bleak that we h
It didnt matter. And the market went down anyway. Dow sinking 196 points, s p falling 1. 35 and the nasdaq declining. 93 . How can that be . Hey, isnt this a market of individual stocks. No, not right now. Nope. You see, we have some Disturbing Trends in the overall market that trump the achievements of Single Companies and even whole sectors. And right now, no trend freaks out investors more than the total collapse of oil prices. When the highspeed traders who dominate the stock market see Energy Declines like today with oil down more than a buck and a half to 44, a level we havent seen since the great recession, they dont just sit there and pick among the stocks the benefit from cheaper oil while dumping the oils themselves that wouldnt be a rational move. No, they sell the only thing they seem to know how to sell. The whole s p 500. They cant waste time picking and choosing among individual stocks. They know that when oil goes down they need to blast out of everything. Because thats
Oil and the bears feeling threatened if energy doesnt go higher immediately. Each day, one of the bears seems to roll over, crushing goldiloc goldilocks, and today papa bear just mauled her, sending the dow down 112 points, s p down 12. 5 . Nasdaq down 1. 4 . It was a nightmare of a session, because goldilocks looked home free before she was blindsided by the whole bear family in the last 20 minutes of trading. It was the goriest close of the year. You remember the story of the three bears. So lets put them in perspective, with goldilocks, who, of course, triumphs in the fairy tale, but these days tends to get waterboarded at least once a day, if not kept all night with lights and blaring rock music. Each session, goldilocks faces off against a different bear, and today the russian papa bear mauled her and her happy ending. No happy ending. However, i dont want to get too ahead of the story. Lets take the bear serially, so you know what kind of gauntlet this kid has to go through. Firs
Within five years. Its called operational control is the term theyre using for it and it would penalize political appointees if they dont meet those goals. Its not going to go very far. The house will pass it this week. You know the its contingent on both sides. Jay johnson, the head of the Homeland Security department has said its extreme. Unworkable. These are not goals that we can meet, so the democrats hate it. Interestedly, a lot of conservatives dont like it either. Senator Jeff Sessions saying that the mccall bill is terrible and the question mark is for boehner and the republicans is that conservative opposition going to reach a point they cant get 218 votes on the republican side to pass this thing, so immigration has always been a tough issue for republicans and boehner and its going to be a test for this week to see how well they can manage their conference going into this new congress. They have more seats, but do they have more power is the question. And thats going to be
So were 15 points away from that or thereabouts. Sure. Getting close. Apple also hitting new highs. Its like a market of its own. We have the analyst who just hiked his price target on the stock to 150 and satisfiesys this company is on the way to a 1 trillion market company. In case you hadnt heard, the buzz is theyre working on a car now. That would be one of the new projects. Well look into that a little later. Lets show you how the markets are trading today. Hasnt been the most volatile session. A lot of eyes on the negotiations between the eu and greece on the debt negotiations. Something else we will talk about, but right now the dow is up 12 points. 22 points away from an alltime high. Do i have that right . Yes. The sn is p is up 1. 45 in record territory. Look at the nasdaq 5,000plus is the old alltime high set back in march of 2000 and, boy, are we getting cleser. These are the round level that is will get people talking, talking about the tech cycle this time whats different