Thursday
April 2, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Market is Closed Tomorrow
Yesterday and Today
YESTERDAY
First off this is only the 3rd April Fools day with a down market in10 years.
Another crazy day with the market opening down 200 points. But this story is not a fair depiction of what really happened unless we back up the clock until the night before. It is not until one looks at the market from 8:55pm the night before that the chaos is depicted accurately.
Tuesday Night At 8:54 pm
The market was down 8.25 E-mini points.
Tuesday Night 8:55 pm
The E-minis fell over -20 points. The reason? No one knows. Some claim it was some insignificant number in Japan was released. Others claim it was because some glitches in prices of ETFs, which when traders didn’t know what was going caused them to start forcing down the E-mini prices. Either way, by the open the the futures were almost back to unchanged.
Wednesday Morning 9:29am (eastern)
The E-minis were only down 3 points and it looked like the markets had a fighting chance of being up on the day.
Wednesday Morning 9:50am (eastern)
Futures were down 20 gain.
Wednesday Afternoon 3:59 pm
The S&P runs up 7 points at the end of the day to close down about 5 points.
Throughout the day all that was discussed was how bad earnings were going to be and the Iran nuke negotiations. As the deadline clock kept ticking down for a Middle-east deal with Iran people got more confident nothing would get done and so oil prices ran up to $50 a barrel. You see, if a deal were done a possible 1 million barrels a day in oil would hit the markets ā thus depressing oil prices.
ADP numbers came out lower than expected, which had bonds flying higher on the day with the bond yields being down 5 days in a row.
TODAY
The markets are closed tomorrow, so today is it for expiration plays.
Bullish Argument
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Analysis are complaining and warning about bad earnings coming out in the next couple weeks with every company that screws up having two things in common ā bad weather and bad currency risk.
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If the earnings even come in as expected with the reduced forecasts markets will probably jump because all the weak handed sellers are already out.
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Anyone who moves in and out of the markets with any degree of frequency watches CNBC and reads various publications (like Barron’s, WSJ, etc). All the pseudo- intellects and analysts on Wall Street (more like Madison Ave) are talking like Henny Penny. The fact that the Dow is still within 300 points of 18,000 is amazing.
Bearish Argument
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The first quarter growth in the US is looking to be less than 1%.
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It is getting VERY, VERY, OLD watching this market move higher simply because the Fed is not going to raise rates next month. This one has me very nervous even if the Fed said they are not going to raise rates until Sept.
A separate update coming.
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
It is amazing how when a democrats gets indicted they leave out his political party. When a Republican or Tea-Party individual does the same thing the media indicts the whole party.
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Attorney Stuff
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