Speaking of weapons of mass destruction lets address the elephant in the room at the top of the show frflt the moment we learned last night that north korea may have detonated a Hydrogen Bomb or claimed they did you knew today was going to be a difficult session. Markets like the people that trade them have always had a hard time factoring in potential nuclear catastrophes. It didnt feet great to rush in and take the other side of the trade. The combination of the unknown and inherently irrational north korean government and thermonuclear weaponry is reassuring as it gets. The stock market in korea seemed to take the whole thing in stride dropping about a percent on the news or at least the tremors before ultimately it rallied hard and finished almost unchanged. Theres no universe where we could be down more than south korea on these moves. At least no more worried than you were yesterday. Remember the North Koreans have had Nuclear Missiles for years now. They conducted the First Succ
Thermo nuclear war. Speaking of weapons of mass destruction lets address the elephant in the room at the top of the show frflt the moment we learned last night that north korea may have detonated a Hydrogen Bomb or claimed they did you knew today was going to be a difficult session. Markets like the people that trade them have always had a hard time factoring in potential nuclear catastrophes. It didnt feet great to rush in and take the other side of the trade. The combination of the unknown and inherently irrational north korean government and thermonuclear weaponry is reassuring as it gets. The stock market in korea seemed to take the whole thing in on the news or at least the tremors before ultimately rallying. It rallied hard and finished almost unchanged. Theres no universe where we could be down more than south korea on these moves. At least no more worried than you were yesterday. Remember the North Koreans have had Nuclear Missiles for years now. They conducted the First Succes
First, even after this twoday, markets not down much at all. The s p 500s only off about 4 , dows off 5. 7 , nasdaq which totally red hot going into this week is down 3. 2 . Barely down at all especially when you consider this high index is up 22 for the year. That perspective matters. Today the high fliers in the nasdaq, the linkedin, teslas finally cracked, my favors celgene, regeneron and gilead. But very few can hold up even if they dont have that economic sensitivity. These highfly selloffs dont end in a day or two. They tend to last three four days before they start bouncing back and usually bounce back with a vengeance. Accept theyve been big winners and big winners do sell off and then your call not mine whether you can handle the disturbance, or if you want to ring the register, i suspect theyll go back when the deal is done. Again, perspective on things. As i like to do every time i get discouraged like today, i take a look at the wall street journal from october 4th of 2011.
First, even after this twoday, markets not down much at all. The s p 500s only off about 4 , dows off 5. 7 , nasdaq which totally red hot going into this week is down 3. T2 . Barely down at all especially when you consider this high index is up 22 for the year. That perspective matters. Today the high fliers in the nasdaq, the linkedin, teslas finally cracked, my favors celgene, regeneron and gilead. But very few can hold up even if they dont have that economic sensitivity. These highfly selloffs dont end in a day or two. They tend to last three four days before they start bouncing back and usually bounce back with a vengeance. Accept theyve been big winners and big winners do sell off and then your call not mine whether you can handle the disturbance, or if you want to ring the register, i suspect theyll go back when the deal is done. Again, perspective on things. As i like to do every time i get discouraged like today, i take a look at the wall street journal from october 4th of 2011
Job which is what happened today. With the dow roaring 206 points s p volted 103 points. I know plenty of team think all that matters is washington i think that all that mat is getting washington out of the picture which may be exactly what is happening now that compromises is in the air. Extending borrowing until february of next year and stop the Government Shutdown with agreement to Fund Operations million january 15. If we dissect this one day, one day in the life of the market, you can see what the stock world looks like when washington is not wrecking the economy. The good news i was up all might. I will share that with you. It started at 1 00 a. M. When santafe announced results for a drug i have been calling you, anticholesterol from merck. This compound that reduces bad cholesterol that cant take the current statin drugs could easily mean 3 billion in sales. A blockbuster that will be fast tracked because of the results. Thats why regn jumped 17 points in one session. Few hour