So, the low volume two day bounce after tagging a 50% retracement of the June rally has been mostly given back in the snap of two fingers.
The upholding of ObamaCare is being blamed but futures were down 9 points at the open and it was because of Europe, again and still. There are only two ways for Europe to escape and they are: endless printing and bond buying or the United States of Europe. I’d say the former has more chance than the latter. They are clearly more interested in soccer and their upcoming August break than reform. Maybe if they just ignore it…
Certain segments of the market were moved by ObamaCare but it is purely political news over the near-term. The only way Obama loses is if the stock market crashes in October. That is not partisan, just realistic.
Summer has just begun and its gonna be a long one. Enjoy this beautiful day!
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Romney needs to grab Rand for VP if he wants to close. Lockup the Tea Party vote and a strong portion of the youth vote.
Actually the election becomes a referendum on 0bamaCare. If folks think they will get shafted by paying healthcare for 12M illegals and another 12M deadbeats then 0 loses and loses big.
I agree. This is a big win for Obama, but I think it hurts him for the election.
I have a request Scott.
I’ve learned a lot from you over your time here. You’re a very smart guy that has made some very bold and very correct market calls in the past few years.
But I miss the charts.
I know you’re operating a paid service, so I respect the fact that this just may not be possible. I know you’ve also mentioned in the past that the charts take a long time to put together, and far be it from me, who hasn’t paid you a dime, to request anything. But lately when I read your blog here I get a standard list of macro reasons why the market is down if it is down, and a standard list of macro reasons why it is up when it is up.
I miss seeing your thought process on individual trades. Hell, cherry pick your winners and post them after the trade is over if you want. I just like seeing the thought process of a guy that obviously knows what he’s doing.
Anyways, just my opinion. I respect your right to say “fuck you, if you don’t like what I’m writing, you can go somewhere else.”
I will take it under due consideration…and I rarely print the “F Word” as we are mostly gentlemen here !
Thanks Scott, I appreciate it.
this is leaving a bad taste in the mouths of small bidness. a new tax is all it is,scotus even said so. should we really be surprised? prolly not.