Morning Comment: October...deja vu all-over again...or not???


  • October in NE: Colors, Red Sox, Tom Brady...Wait, what?
  • September corrections usually bottom in October.
  • Chip stocks are a great leading indicator...and they're rising.
  • But so are the truckers...and they're falling.


October in New England: Colors, Red Sox, Tom Brady...Wait, what?

October. There’s nothing better than October in New England. It’s the same every year. The foliage turns beautiful with its fabulous colors...and we get to watch the Red Sox play in the MLB playoffs...and watch Tom Brady lead the Patriots into the meat of another winning season. Uhhhhhhhhhh...well at least the colors should be great again!!!


September corrections usually bottom in October.

As we’ve been saying (and showing) ad nauseam recently, October is also the month where the stock market tends to see a significant bottom...when it is followed by a rough September (like we just the one we just experienced). In other words, even though September can frequently be a rough month for the stock market, we usually need to see more downside follow-through before we seen an ultimate bottom. However, it is not out of the question that for the first time since 1986, the lows for a September swoon will actually come within that month...and not in October. So what will it take for the market to rally further current levels...and not make a lower-low like it usually does in October (in those years when September is weak)???

Well, the first thing we’re going to have to see is a new fiscal deal out of Washington DC. We’re hearing a lot of hope out of Speaker Pelosi and Secretary Mnuchin that a deal will get done, but we wonder if this chatter is merely something to drown-out all of the layoff announcements we’ve heard this week out of companies like Disney, Royal Dutch, Continental, Goldman Sachs ...

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Morning Comment: Follow the Dollar


  • Things are only going to get uglier in the Presidential campaign.
  • Trump is actually winning the “expectations game” for the debate.
  • Pelosi’s comments & the dollar are helping the market bounce this morning.
  • The dollar is overbought near-term, but still ...
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Morning Comment: Watch the chip stocks for guidance


Wow, another wild day in the stock market yesterday. A 1.5% rally off the initial lows was followed by a 1% decline into late-morning. That, in turn, was followed by a 1.7% rally into mid-afternoon...which was then followed by another ...

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Morning Comment: European Banks Testing Critical Support Level


We saw a nice bounce in the stock market yesterday, but the trend on the “internals” on the market continues to be the same that it has been since the beginning of the month. In other words, “internals” continue to ...

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THE WEEKLY TOP 10


THE WEEKLY T0P 10


Table of Contents:

1) The stock market was (and is still) ripe for a further decline...no matter what the Fed said this week.

2) However, the Fed’s actions of the past decade HAVE put us in ...

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Morning Comment: DON'T BLAME THE FED for today's weakness!


We’ll start by saying that if it turns out be true that President Trump played a large role in getting the Big 10 to reinstate their football season, the election in over! Given how important college football is to the ...

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Morning Comment.....FDX: GREAT quarter, but VERY overbought....Stewart Cink.



The stock market gave back some of its midday gains late in the afternoon yesterday...after APPL slipped well off of its highs for the day and the dollar bounced back into positive territory for the day. However the stock market ...

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THE WEEKLY TOP 10



THE WEEKLY TOP 10


Table of Contents:

1) The “artificial” moves actually started in Q4 of last year (after the repo debacle).

2) When the market reaches the kinds of extremes it did in Aug, it takes time to work ...

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Morning Comment: Too early to "buy on weakness"



  • The "internals" during yesterday's rally were mediocre.
  • The call buying in AAPL was huge yesterday, so very little froth has been wrung out of the market. (Many mega-cap tech stocks are still quite overbought on an intermediate-term basis.)
  • It's usually ...
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Morning Comment: Watch Friday's intraday lows, they're KEY support


The U.S. futures are trading significantly lower this morning as the tech stocks (especially the mega-cap tech names) are under pressure once again. Our stance on this situation is a lot different than most. Many people are saying that it’s ...

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THE WEEKLY TOP 10

THE WEEKLY TOP 10


Table of Contents:

1) The sell-off in the stock market likely has more room to run.

2) An explanation of what has taken place in the options market this summer.

3) We’ll need more downside follow-through ...

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Morning Comment....Caveat Emptor


It has been a very different kind of year for the stock market and this week has been no different...as the week before Labor Day weekend has not been the normal boring week we usually see in the market place. ...

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