Ricks Picks

Tweet Exhaustion

EST

The tweet-driven stock market has exhausted my patience, as I am sure it has yours. Expect a short-covering rally lasting perhaps a day or if and when Xi and Trump shake hands on a face-saving deal. The rally that ensues will be as phony as the deal itself, and that’s why we should view it as a great opportunity to get short. The news media will pretend something has happened, celebrating nothing so much as their own ability to invent a story where there is none. Don’t buy any of it. If the agreement has any value at all, which is doubtful, it will lie in the extent to which it reduces Beijing’s ability to coerce U.S. companies to give away the store technology-wise if they want to do business in China. How many Dow points would that be worth? Answer: Not many. [Note: Rick is on holiday but will be updating these commentaries as warranted. Check back daily for new developments.]

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none August 27, 2019, 10:51 am

The Fed Shouldn’t Enable Donald Trump
The central bank should refuse to play along with an economic disaster in the making.

By Bill Dudley
August 27, 2019, 6:00 AM EDT

This action: is ‘Hammer Time’ and its going to be bigger and larger in scope than many think as of now. Look INDU 22,750.00 1st support.

Prices will revere just how bad it will be, as an ever increasing downward spiral is created.

The FED may be just falling into a political trap played by Trump.

…Or, just maybe both get what they wanted, as in life “we all get what we want.”

August is on track to be the fifth month of the year in which insider selling tops $10 billion. The only other times that has happened was 2006 and 2007, the period before the last bear market in stocks, Trim Tabs said.

Have a great day Rick.

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