What is ailing this market. This week i looked up the fabled july 15, 1979 crisis of confidence speech to see what jimmy carter said during a period where america was suffering from a collective malaise. And i quote, for the first time in our history in the history of our country, a majority of our people believe that the next five years will be worse than the past five years, carter told the nation. Again, quote, it is a crisis that strikes at the very Heart National will, end quote. Of course at the time we were suffering from gas lines caused by an opec embargo, and from wild inflation caused in part by a weaker dollar that eroded our savings. Now the price of oil is on tenter hooks after being cut in half and its the dollars strength thats hurting earnings. Theres some kind of aversion to owning stocks which i think is part of a genuine belief that the future will be worse than the past for many americans. Carter talked about a poisoned political environment but the partisan rancor
Big change of pace. What would a strong swimmer do here . Thats what im trying to think. See, you cant outswim the currents. Not even phelps could match some of these twists and turns. That doesnt mean we cant figure things out together. You and me. Spot the patterns. Come to the conclusions. Conclusions that make sense given the fact that there are so many rotations going on even midday. And multiple winning ones of with got xp we have to go back in history. Lets start with what happened one week ago today. Most traders and investors presumed because of the polling that Hillary Clinton would win the presidency. They made a host of big, big bets on hillary betting that she would win. Mostly wagers that a Clinton Administration would be an extension of the obama administration. Gridlock, not so hot growth. Which somehow we were convinced we liked. Faster than a stalled economy because the economy will stay stalled, right. Not so fast they draw government scrutiny like banks that are doi
What would a strong swimmer do here . Thats what im trying to think. See, you cant outswim the currents. Not even phelps could match some of these twists and turns. That doesnt mean we cant figure things out together. You and me. Spot the patterns. Come to the conclusions. Conclusions that make sense given the fact that there are so many rotations going on even midday. And multiple winning ones of with got to exploit together. Lets start with what happened one week ago today. Most traders and investors presumed because of the polling that Hillary Clinton would win the presidency. They made a host of big, big bets on hillary betting that she would win. Mostly wagers that a Clinton Administration would be an extension of the obama administration. Gridlock, not so hot growth. Which somehow we were convinced we liked. In that situation you want to own companies that can grow because the economy will stay stalled, right. Not so fast they draw government scrutiny like banks that are doing to
Nasdaq advanced. 2 . Good enough is the theme for the day. Why not start with the ultimate good enough . Lets start with apple. They reported a number that showed a 15 revenue decline yet the stock is flying in after hours. How in the heck can it decline like that be bullish . Simple. Because there were many, many worries going into the quarter. Even among the bulls that it would be worse, maybe far worse than that. Nope, it was good enough. Better than we thought three months ago. And frankly could have been more than good enough. Tim cook told us. If apple hadnt been supply constrained on its iphone selling almost only 40. 4 million when it could have been many more than that. Plus that Service Revenue stream that i talk about all the time just keeps growing. Cook said it will be the size of a fortune 100 company by this time next year. When we asked him if that meant 28 billion, the value of the Smallest Company on the austere list, he told us, no, it would be more than that. I stan
Their homes. And another hover board explodes and blames the house fire in the area. Details on the model and how the popular toy exploded. Good morning. Were watching a foggy commute. Thats right. This is in parts of the peninsula and the north bay but no major hot spots right now. Are we going to have a Weather Report . Yeah, it overlapped so much this summer. We have air travel, its delayed by fog. Lets show up the live look. An hour delay for incoming flights. This is all because of this fog which you can see at the Golden Gate Bridge. Theres the south tower right there. You can see the bridge lights going inside, and you dont have to go far up before it disappears that fog, hanging low over the Golden Gate Bridge. This is San Francisco looking out across the embarcadero going over the bay bridge. This is cloudy and foggy with pockets of dense fog around the area. Well break down the day for you. 8 00 is getting off to school. Still cold, kids will need to bundle up. By noontime th