The dow climbing 89 points and nasdaq falling 1. 25 . I have to tell you if thats what you thought was happening, youre missing the point of how markets work. Let me put on my defrocking hat and away we go. Heres the truth. We rally because in the absence of any genuinely bad news from overseas. Heres what happens. We focus on whats really going on in the world of profits. Profits are what matter. The rest is all distraction unless it deeply impacts or hurts the numbers. Let me tell you how things play out. An event occurs overseas. Nato perceives this as being threatening to the United States. We know this because somebody tells us so. Instantly the Hedge Fund Managers take action. I happened to be rerouting my hedge fund last night. I think its because these guys are paid to be right all the time. They have to make money on both up days and down days. Mutual Fund Managers who cant short stocks and can just own stocks. Theyre not expected to make money every day. Hedge Fund Managers a
Said he would be a good boy or come rad. The dow climbing 89 points and nasdaq falling 1. 25 . I have to tell you if thats what you thought was happening, youre missing the point of how markets work. Let me put on my defrocking hat and away we go. Heres the truth. We rally because in the absence of any genuinely bad news from overseas. Heres what happens. We focus on whats really going on in the world of profits. Profits are what matter. The rest is all distraction unless it deeply impacts or hurts the numbers. Let me tell you how things play out. An event occurs overseas. Immediately its perceived as being threatening to the interest of the United States in one form or another. We know this because someone in the state department or the president or maybe just some negative analyst tells us so. Incidence tantly the Hedge Fund Managers take action. I happened to be rerouting my hedge fund last night. I think its because these guys are paid to be right all the time. They have to make mo
They say there is no evidence they stole debit card pins. A dutch investigation points to a belief that the Malaysian Airline plane was shot down by a missile over ukraine. The u. S. Has said prorussian rebels probably down to the airplane this summer. Listen up, ladies. Goingchoo is close to public. Theyre seeking a valuation of about 1 billion. You can buy a lot of shoes with that money. They areack to apple, expected to unveil the next generation of iphones, heating up the battle for the smartphone market. We have talked about this the last several days. Cory johnson is at apples home. Lay this out for us. Apple is trying to regain some lost ground in the smartphone market. That is fair. They have had a successful business, but a market in 2007, a market that apple stormed into and dominate, that is not the case anymore in terms of global competition or the smartphone business. Samsung has eclipsed apple. It is possible in revenue as well, samsung is outpacing apple. Apple is lookin
Calls for immediate access to the alleged site. Good morning, everyone. Good friday morning. It is the final trading day of the week. Ross is still out on vacation. He will be back with you next week. Meanwhile, lets come back to one of our top stories. Nasdaq ceo in his first comments after the glitch that halted trading for three hours on thursday is calling for Higher Standards for exchanges. He tells the wall street journal, our systems and the industries have to get to a higher level of robustness. The journal reports nasdaq officials internally pointed to a connectivity problem with competing Electronic Exchange as the trigger for the technical issue that forced the trading halt. Arkia wasnt named in the official statement and the they have declined comment. Nasdaq officials believe they should have been able to manage the connectivity problems. Reports say nasdaq was able to fichlt issue in 30 minutes but didnt restart trading for another two hours due to the need for testing an
We need to look forward because while were right in the thick of earnings season, next week is the toughest one of all. Whats the game plan . First of all, next week i have a weird twist. Were going to be doing the big guessing game over Municipal Bonds. Who will be the next to go under after detroit . I dont want go to there because i think detroit is a special case, one thats uniquely horrible as the tax base has been eroding for years. Thats something we dont see anywhere else except some small towns in california. Heres something you need to know. I would not be a buyer of any mu n Municipal Bonds here. The yields are too low. This is a showdown that has no impact on your pocketbook unless you own the detroit bonds themselves. Now, this huge earnings week coming up. Before we get there, lets go over a pattern ive observed thats going to color all of this action. First, while tech is incredibly visible as a disappointment right now, we have nevertheless seen multiple areas where com