Thursday
October 15, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Yesterday and Today
Yesterday
Despite the market being down 150 points it was not really a big-deal day. Most of the reason for the Dow taking it on the chin had to do with Wal-Mart whose stock was off 10% on the day. The company essentially did the best it could to not admit it fails at every single thing it tries.
The stock took off about 70 Dow points itself from the Dow, but also dragged other retailers with it. Other retailers are a screaming āBUYā as it is a Wal-Mart issue, not retail.
Other interesting tid-bits:
After the bell TSLA announced it is sending software updates out today that enable cars to automatically parallel park and do the driving for people. That is right, the age of the Jetsons is almost upon us. Self-driving cars start today.
NFLX had earnings out today which missed by $0.01. That in itself is not a big deal. What is a big deal is that analysts were expecting NFLX to sign up 1.19 million new accounts, but only 800k actually singed up.
NFLX closed at $110.23 and immediately fell to 93.55 in the after markets. But by the time POT class ended at 8:30pm the stock was up $0.50 (110.73). We could actually see a positive open tomorrow despite missing bad. Some of the blame is being cast on the new credit card chip system. Big Bro needs to know what you do, and those chips help. They are actually less safe than the old cards. Read the Health Care Bill and see how they can access your credit card information to evaluate what people are eating. Trust them…it is for your own good.
TODAY
Yesterday’s market sell off because of WMT was stupid. We had a healthy bounce going for 6 straight days, and almost a 7th. I stated two days ago that we need a tiny pullback to make things reasonable. We got it on Tuesday and Wednesday. Now it is time to move back up.
NOTE: Bond traders are going to get edgy and skittish. They found out there is a lot of bickering in the Fed about rates. This may increase volatility in the bonds, and therefore in the equity markets.
Be careful of surprises in Syria. There is a 99% chance NOTHING is going to happen there, but…
Iran is now flying their jets over Syria with Russia. We have Britain announcing yesterday that if Russian planes engage them in Syria they have permission to shoot down the Russian plane. I know that the same doesn’t go for the US fighters who probably have orders to yield the right of way of Russians. And since Obama has it out for generals in the military it is clear that the generals will not push the limits of engagement.
Nine generals have been let go this year alone. This is unprecedented. Of those, two generals and one admiral (Navy equivalent of general) have been let go directly related to Benghazi. According to these three generals they were let go for disagreeing with Obama’s statements by saying US forces in the region COULD HAVE responded to the attack in time to save the lives of our Ambassador and soldiers. And who am I going to believe ā three generals or two politicians? Source below
http://conservativetribune.com/obama-firing-generals-why/
And now we have Iran launching ballistic missiles like it is the 4th of July, and they are also flying with Russians in Syria. The skies are getting crowded and it is only a matter of time until someone shoots someone down. That will be good for a 300 ā 500 point fast drop that will not last for long. Eventually traders will realize it will not result in a war, but a strongly worded protest from the President and a photo op with the family of the lost pilot(s).
I am NOT being critical of the president, and definitely not critical of our country. I KNOW how lucky we are to be Americans and am proud. I would put on a Marine uniform and fight with our soldiers right now if allowed. I have my pilot license and PADI license. I would do whatever function (flying, walking, scuba diving) required of me. I respect and I am appreciative of our military.
I am predicting what would happen in a plane being shot down based on the evidence I have seen. As traders it helps to prepare for any eventuality, though we always miss some.
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