Wednesday
February 18, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Vegas Session Starts Tomorrow
FOMC (“da Fed”) Meets and Releases minutes Today
Great Morning!
Closing Prices From Yesterday
NO NUMBERS
Yesterday and Today
Yesterday
With the falling apart of the Ukraine cease fire and Greece acting even dumber than most people could fathom possible, one would have thought the open would be even weaker than the -10 the E-minis were indicating. Yet on the open we never made it that low, and the markets sat pretty much unchanged all day.
There were a couple noticeable items.
OIL moved all around in a tight range and had no visible impact on the price of stocks. BONDS took another nose dive lower, meaning rates are going higher.
At the end of the day we were up very modestly as it appears the markets are waiting for Yellen’s comments today to move again.
TODAY
Here it goes. It feels that this market is ready to blast off higher and is being kept down only by uncertainty.
Ukraine
There is uncertainty over the Ukraine, but it is diminishing in importance.
Greece
There is uncertainty over Greece staying in the EU, but who really cares other than Greeks? Greece has as much bargaining power as Eddie Ray Routh, the guy who killed Chris “The American Sniper” Kyle, has of getting off with a lenient sentence of probation.
Oil
Unless oil falls >$5 in a day I doubt anyone is even watching it anymore.
With all the things that has been spooking the markets moving from the front page to the middle of the newspaper this market will likely focus on only one thing – there is no place else to put cash.
Don’t get too excited for too long. This is not value investing. This is simply a lack of anything else making sense. Gold is falling and broke through support. Bonds are at all time highs and can’t keep up with inflation. Commodities are falling. People are left putting money in stocks or baseball cards.
BE VERY CAREFUL at 2:00pm eastern. Last time Yellen spoke it spooked the markets. It could happen again, but it will be a buying opportunity. That is my guess, at least.
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 – RWT – 0008 for more details.
Too True To Be Funny
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