Morning Commentary
Summer Kennedy, the 2014 Playmate of the year, is a fierce day trader who gets up at 5AM in Los Angeles to trade stocks and share ideas on Twitter. Some would say that’s the sign this market is ready to flop.
So, what is the biggest sign this market is ready to pullback?
Summer Kennedy trading
Big boys like Carl Icahn warning
The Fed Hiking Rates
Some Other Black Swan
I would like to hear your thoughts. Here are mine: the market is due for a pullback, but this is NOT the year 2000 for a myriad of reasons, but mostly the construction of leadership in market and earnings. In other words: these are real companies with real growth and earnings.
Just think about this, the NASDAQ is up a couple of percentage points over the last 15 years; that doesn’t sound like a bubble, it sounds like maybe there is huge potential to the upside as Facebook leads the way and not Pets.com.
(By the way, Summer Kennedy will be on my show “Making Money with Charles Payne” next Monday, June 29th).
It’s still all about Greece this morning. The clock has actually moved past midnight, but since the entire episode is in the Twilight Zone, all the rules, including logic and the time-space continuum, have been erased. The standoff, however, can only end with Greece swallowing its pride and making real reforms.
It means the market will be shaky for some time. However, once this epic saga ends, it will be on to the Fed saga which will test all the motherly skills of Janet Yellen as she cajoles, coddles and cradles Wall Street even at the risk of blowing up Main Street. Welcome to summer madness!
Today’s Session
Futures are higher, but have been drifting lower for the past few sessions. Stocks didn’t get better on a strong report on consumer spending and income. Spending and income came in better than consensus estimates with the former surging in part due to a dip in savings.
It speaks to that virtuous cycle, but there’s a long way to go to see if there will be any traction. For now this report should move the needle for a Fed rate hike to sometime this year.
Comments |
Usually an extreme crash like we had should have had a snap back recovery with GDP in the 6-8% range at the beginning. We have been limping along and finally moving the needle a little this many years out.That extends this combined with the low 10 year rate making stock relatively still a bargain. And the dollar strengthening from global easing ties the Feds hands to barely raising if at all. Any correction is a buying opportunity and I believe barring an extreme war or some calamity we have 2-3 years growth that will favor stock pickers over indexes. Ray Weldon on 6/25/2015 9:56:06 AM |
CI..who knows with altos governing mkt where it's going strictly momo and gambling...more importantly, Ichan, imho is 110% correct.....earnings are "fudged" and using NON-GAAP vs GAAP is pure manipulations. Having owned a variety of Co's, trust me, I know how these numbers are manipulated. Until SEC makes ALL Co's report cash flow results as performance metrics we'll never know the real truth....cash flow statements only one that doesn't LIE!!! RLB on 6/25/2015 10:50:07 AM |
Still interested in knowing who is receiving higher income and being able to spend. In my middle income neighborhood in Ca. no one is getting raises and no one is buying any big ticket items. I know Ca. is now a foreign country but something in the Income/Spending graph doesn't settle out in terms of what we are witnessing in real time observations. Just like the SCOTUS ruling on the ACA. Everything is upside down. Russ on 6/25/2015 1:02:56 PM |
Some other event not currently on the front page. It's not usually what is obvious. Scott Heck on 6/25/2015 2:06:17 PM |
The market is churning again, and one of the big problems we have is that corporations are having a big problem in planning for the future because the government is constantly changes the rules, sometimes after the fact. E.V. Wagoner on 6/25/2015 5:22:43 PM |
''what goes up, must come down,'' do when will it come down, soon, I predict. joecayman on 6/28/2015 2:30:05 AM |
Tweet |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
3/12/2024 9:25 AM | ROTATION IN FULL SWING |
3/11/2024 1:41 PM | Sharpening Pencils |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|