Then hold on to our Massive Gains today . Howdy the dow end uproaring 619 points, s p pulled more than 3. 9 , largest gain since 2011, and nasdaq rocket 4. 25 . Where were all those sellers . Where did they go . Did they fin Senate Judiciary committee had they left the building for good . For starters lets speak to the whole random nature whats going on in this stock market these days. Of course were trading in lock step with the s p futures at the open. They rallied hard from the getgo today. After falling some 10 for the year, then they tipped big time in the middle of the day. Oh, it looks scary. Then they powered right back up. And then some at the close. Hows that possible . Ive even got some substantive things happening that are pretty positive but maybe more important some ethereal, mechanical, and purely emotional factors that could be at work here. First, in this environment, we always got to turn to china, right . Thats the primary reason for our stock markets action. While t
In the credit markets which is why tonight i want to walk you through the hidden but bullish changes that helped the market regain some mojo after whats been a thoroughly nightmarish year for the bulls. First we have to recognize this market has been plagued by a pair of stressed out stocks, free port mcmoran and chesapeake, the two most visible black holes out there. Chesapeake has 500 million in debt next month. We heard they hired advisers to reorganize and perhaps fall on that bomb setting up a bad chain reaction. Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal that gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints
Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are looking at. The oil and gas pipeline business ha
They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability to stay competitive versus verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are business has been sucking capital out of the market left and right. When you read that warren buffet bought 26. 53 million shares, a pipeline giant kinder
Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability to stay competitive versus verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are looking at. The oil and gas pipeline business has been sucking and right. When you read that warren buffet bought 26. 53 million shares, a pipeline giant kindermorgan inc. In the open m