Good morning:
Let’s just hope that they exclude Mucinex from the tariffs in the future. The NightShift medication knocked out my cold and gave me 8 hours of sleep. Now I’m ready to run…
With JPMorgan Chase (JPM) kicking off earnings today… we could be in for some stunning moves and louder warnings about the global economy.
But you know the drill. I’ve been digging through the data and the headlines to find the places where money’s heading today. And I’ll be breaking it all down at 8:45 ET.
Join me at TheoLive: Market Masters at this link… in 30.
So, what’s on tap Garrett?
Is the Basis Trade exploding? Janet Yellen - Patron Saint of The 0.1% - told CNN International that “leveraged hedge funds” were selling U.S. Treasuries, which spurred the panic in the market. Of course, the journalist interviewing Yellen asked a simple question… why do these funds own so many Treasuries in the first place?
We had some big changes last night in our momentum readings. But money’s still going in the wrong direction. We’ll discuss where all 11 sectors are at the moment, and where money is flowing in leveraged funds. We want to see money moving…
And I’ll show you what it’s doing right now.
With the dollar slumping (time for you to meet the UUP)… and the Swiss Franc pushing new highs), gold is charging higher and higher. How high can it go? That’s anyone’s guess. But if you’re following the momentum, I’ll show you where to look with mining names that continue to charge higher. That’s not all…
Take what the market is giving you. Today, we have earnings from Wells Fargo (WFC), JPMorgan (JPM), Morgan Stanley (MS), BlackRock (BLK), Progressive (PGR), and how about Fastenal (FAST). I’ll show you what you’re looking for when the market opens… and when it’s a good time to take a small shot at a reversal trade using call options.
Everyone! We’ll be live in 30 minutes. So, get your coffee… or your water… (it’s too early to start anything else)… and join me live.
Stay positive,
Garrett Baldwin
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