The Stock Market is up across the board 30 min before the open with all indexes + about 1/4%.
TLT is down, with most everything else in the green. Leading the way oil which is over 1%.
This to me is a very strong premarket bias. I would not be surprised to see follow through on the upside today.
The news is pretty much the same, but the bottom line is economic growth is winning out over all the potential market killing news out there.
The story is that the markets do not seem to care about the tariffs. I would rather believe what the market is telling me than what I am hearing from the politicians and the media. The market is much more reliable:)
One interesting news item today is the special election in Ohio. The odds are 3 to 2 in favor of the Republican. In addition, this was an area that Trump won handily in 2016. If the Dems happen to win this seat it may well be a bell weather for November.
I am not much for the idea of bellwethers but if there was ever on this would be it. These Congressional seats tend to be localized so there are many other considerations then what you are seeing in the media.
At any event, should be interesting, and something to pay attention to.
One other idea this morning that I started thinking about is that if you have social media as a significant portion of your portfolio you might want to reconsider.
Myself, any companies that get involved with the “SJW” movement are eliminated from my portfolio.
Twitter and Facebook are top on the list. But there are others out there.
It’s not that I do not have some sympathy for the “SJW” movement but from an investment standpoint, there are too many risks with these companies.
From tightening federal regulations on them to almost 1/2 the population souring on them for political reasons is enough to take them out of any long-term portfolio.
Afterall, don’t you want a CEO that maximizes profits? Especially if your retirement depends on it!
I will be looking for some swings today. The environment looks pretty good to me right now. We tried two trades in the Dow futures yesterday morning and took small losses. The 3rd breakout would have been a monster trade but I usually give it up after two losing trades in a row:(
I should be around this morning for some early comments and perhaps a few trades so come to join me @rickjswings. It’s free:)
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.
It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
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