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Believe it or not, this is actually the kind of decline you want if you are a bull. We cant keep realallying on the news over and over again. President trump and president xi could hammer out a trade deal. Rallies need more and more fuel. Without it you end up on a day like this one. It reminds us that stocks can go down, too. So what did make today so soggy . All the red hot cloud based enterprise stocks, they were dethroned today. Yesterday sales force told us it was buying Capital Software for a huge premium. Everyone figured that every company in the sector and cloud kings would have takeover biz. These stocks deserve to come back down and they did. They got what they deserve. Helps businesses. Work day just reported terrific quarter down seven. Cooper software, like them. Amazing companies, amazing companies, also stocks get hammered. Think of it as cloud royalty being led to the yesterdays cloud rally was all about froth. ....
Nasdaq what is driving the bus around here going to take a closer look at top ten contributors to the dow jones average, the rally last quarter is telling us about it atvictim of, where is the fang in this darn thing but can help us understand why the market has so much staying power. Since i just mentioned f. A. N. G. , my acronym for facebook, amazon, app and google discouraging news as f. A. N. G. Out of nowhere become hostage to etfs that lump then together. Doing nothing at all any we learned that netflix is raising price of its most popular plan its one of the few services i would be willing to may more for and dont realize it amazon prime, spotify, i dont focus on i bet netflix gets no pushback but strength took up rest of f. A. N. G. No meaningful throw in other components all pulled up by netflix thats all she wrote it should be different from that but thats the world we have to accept get back to the main exercise, the ten dow stocks responsible for the recent leg of the rall ....
Is always one step away from the slaughterhouse, include thing one. Every day is the last day of the bull its been that way for as long as ive been following the stock market its going to stay that way. Just a fact of life. Like when you get a daily today that repels the averages from double digit gains, dow dipping 62 points, s p declining, nasdaq losing 0. 82 youre going to hear that the bull has died of xexhaustion after a hard, long run the bull welcome the bear. So tonight lets deconstruct the latest in a long line of bovine oh witbituaries to put it in perspective. That way we can understand how it can be resuscitated every time since ive gotten in the Money Management business, bulls die all the time they rarely stay dead for that long first, as i always tell you, if you want to know the key to the stock market, you have to know the key to the bond market, which is the benchmark tenyear treasury i hate bonds theyre so bor ....