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Does seem to be pretty good between now and the end of the year. Well, i mean, look, just from a Bigger Picture, we talk about trend a lot and i think you have to respect the primary trend, and so from that standpoint lets review what went on last week, a holidayshortened week but so what. A new record alltime high in the nasdaq and the dow, and then you had the canary in the coal mine that was supposed to be down and a new 50week high in the lts so you can look at all these things and say im going to go the other way of things. Youll be on the wrong side of history of over 100 years of market data that we have Bigger Picture the trend is still higher doesnt mean that you cant have a deterioration in the internals and get a correction of course, you could, but im just pointing out thats not whats happening now get a day like today, the market hits new alltime highs at the ope ....
Of ways to describe this incredible rally. Its incredible, and its a little scary, but you cant be scared, and, know, you cant wait for a pullback because market timing is so difficult to do and very few can do it right. Its okay to get in here . I actually added some positions it a i had. Which ones . I added to delta which i bought earlier in the week and bought back united which i sold at 68. Right. Dont real like the company but the momentum in the transports and the airlines in particular are so strong where there hasnt been any for years, thats not going to quit right now and one of the cheapest sectors used by the market i also bought some kbr, part of the Engineering Construction theme and whether we get the structure or not, the economy is so robust and im trying to use some of the others well, eme is one, but the volume is so light that its difficult to get a position in it, but they are more domestically focus ....
Thats right, scott take a look at the chart behind me it shows the trading days between 5 drops going back to 1950 in the s p 500 an if you discount what happened here in the 70s dont worry about that. The patterns were right here around 2,000 trading days since the 5 drop and that happened a few years ago and it happened a few years ago, and it happened many decades ago in the 1950s, so this pattern happens over and over and over again, and were due for a big drop its very different than the markets weve seen so far. We are due for a 5 drop but if you look at the flipside, the other side of this chart were due for a 5 move in the positive direction its the same thing i can delete these circles start again, but here you go, right here, almost 3,000 trading days since the 5 rise in the market and thats a pattern again and again and again that you see its like a earthquake seismograph, the behavioral patterns in the markets repeat themselves and here we are again, kind of due for a big m ....
Points. That is the big question, is the market ready for a hike . The market is asking for a hike. The market is sitting up and begging for the hike, do the hike. You have a window. You have incredible momentum in the way people feel about the economy, all of the soft readings and things like Small Business confidence, home builder confidence, consumer confidence. This is the time to do these things. Dont wait until the next geopolitical whatever, which is probably right around the corner. I think the market wants it and expects it. If the market for some reason doesnt get it, do you think the market is going to sell off, right . I think it would. I think it would come back pretty quickly. It is not only about the hike but about the language that accompanies the hike. In my view, not only do i agree with josh in terms of market wanting and being ready for it. I think it is also ready for some firmer language in terms of the fed b ....
And International Partners in mission hosted this event at the happy dog bar in cleveland. Its an hour. Good evening. Im steveny jansky, director of programming for the city club of cleveland. Its my pleasure to welcome you to the happy dog takes on the World SpecialEdition Event where were discussing the Foreign Policy issues facing our 45th president. These events are presented in collaboration with cleveland counsel and world affairs, International Partners in mission, the northeast Ohio Consortium of middle Eastern Studies and our primary media partner, wcp and 90. 3 and pbs idea ....