Industrials roared because Warren Buffett brought a precision cast parts . Judge big todays action, dow plummeting 212 points, nasdaq nosediving 1. 2 , nobody remembers as all these positives were undone in one horrendous session for the bulls. Now, last night i tried to be skeptical if not down right critical about the rally. Suggesting it could easily be repealed as the week went on. I didnt know it would be repealed immediately. But thats because i didnt think wed be dealing with a chinese currency devaluation that makes their goods cheaper to export and our goods more expensive to sell there. Yet thats exactly what happened. I want to put it in context so you can benefit from it but also so you can be concerned as i am about it and know what could come. First, china, chinas desperate. Chinese communist governments trying to put everyone to work while at the same time putting an end to the widespread corruption in business and politics. We keep hearing that china needs to grow its e
Dollar flat, tenyear 224 and moderate action in crude. Budget priorities the white house out with its 2018 budget plan today which targets big cuts to medicaid, food stamps and disability. Plus u. S. Markets are shrugging off global terror concerns. Futures are aiming for a fourth consecutive day of gains. Isis claiming responsibility for the deadly concert bombing in manchester, uk. The worst terror attack in the uk since the london bombing in 2005. The white house set to unveil the president s budget for 2018 which aims to eliminate the deficit in ten years, the budget includes 3. 6 trillion in spending cuts over a decade, including medicaid, food stamps, welfare, Student Loans and disability benefits. The plan does call for an increase in military spending, most notably, jim, calls for 3 real gdp from 2021 all the way through 2027. Yes, i dont know what to say. You read the new york times, notice i didnt call it the f l failifai failing new york times. This is ridiculous. In a news
Getting you more prepared if the fed decides to take action this month. You can protect yourself with a little more cash than you currently have, but not anything wholesale, not anything dramatic. I am not in favor of that. If anything, i suggest you stay the court if youre a home gamer. I want to explain to you why i feel were facing a decline of moderate proportions, one worth riding through if you can stomach it. Only the super nimble need to take action on what im about to tell you. Let me explain to you how i envision the risk reward versus some of the other declines weve seen in the last eight years. We have had several major selloffs during that period, and each one has had its own coloration. But only one was worth selling a majority if not all of your holdings into. The actual decline that cut the averages pretty much in half. Yes, the Great Recession decline. Thats the tremendous one that occurred when so many of our institutions, mainly household financials but also many ind
Working are downright toxic. Specifically the banks, the restaurants, and the retailers should be on fire right now. But instead they are houses on fire. And theres no letting up in the flames even as the averages rebounded hard today. After opec announced it might cut back half a Million Barrels of production in november. I think this is more of the same where they rumor the price high, which worked again, and then kind of do nothing meaningful. Nevertheless, as i have said over and over again to you, anything that drives oil higher takes stocks higher, and thats sure what happened today with the dow ultimately gaining 111 points, s p climbing. 53 percent. The linkage remains that great even as i urge you to be skeptical of any socalled deals when there is such a worldwide glut of oils. We need millions of barrels to be cut, not less than a million. This means the amount will not give you a lasting impact. I want to talk about whats happening with these beleaguered groups i mentioned
Should be on fire right now, but instead they are houses on fire. And theres no letting up in the flames even as the averages rebounded hard today after opec announced it might cut back half a Million Barrels of production in november. I think this is more of the same where they rumor the price higher, which worked again, taking oil up almost 5 , and then kind of do nothing meaningful, which is also what keeps happening on these kinds of deals. Nevertheless, as i have said over and over again to you, anything that drives oil higher takes stocks higher, and thats the dow ultimately gaining 111 points, s p climbing 0. 53 , nasdaq advancing 0. 24 . The linkage remains that great even as i urge you to be skeptical of any socalled deals when there is such a worldwide glut of oil, one that would need millions of barrels to be cut, not less than a million. This means the amount will not give you a lasting impact. I want to talk about whats happening with these beleaguered groups i mentioned e