Earlier this morning, the Dow futures were pointing to a higher opening, by some 140 points, or thereabouts.
Unfortunately, since we closed under the present trend line in the Monday session, this may be a simple “wave 1” (Elliott) bounce before the next move down. Time will tell on that one. Dead cat bounce, anyone?
Before this morning’s two big data points (Housing will be out shortly and we’ll visit Durable Goods in a moment) the market was trying to rally since our dart-toss as the bottom of trend test for a minor (iv) could be counted as done. This leaves some room to rally higher. All a crap-shoot no matter how you slice it, however, due to the erratic nature of the U.S. Senate and the other pesky bugs in Wuhan.
We will explore this more deeply in our Peoplenomics report for subscribers tomorrow.
For now, our music of the morning is Johnny Cash as we “walk the line” up on this Turnaround Tuesday.
Those Self-Serving Pols
Speaking of the “pesky bugs” in Washington, I was appalled to read Monday that Mitt Romney was hinting at himself be available should there be an impeachment. Spare us.
That’s about the most disingenuous thing I’ve heard from a political empire-builder from a political family in a while. Where do these “American Aristocracy” pretrenders come from?
An additional swamp-slog comes into focus in “Lou Dobbs Slams Staunch Conservative John Bolton as ‘Tool for Radical Dems’.” I’ve known Dobbs for a long time. He was at KING_TV in Seattle during my broadcast days and I like his style. Not a BS’er, he speaks his mind even if the truth reported has a bite to it. If Bolton can’t see he’s a tool, fool, RINO, and sell-out to values, we be tem,pted to diagnose him as coming down with NEOCON Dementia. Which presents initially as massive swelling of perceived-importance.
Unless, he actually honors his various oaths and stands up to the Pelosi-Schiff Show Lynch Mob. Don’t hold your breath, though. Idiots and warmongers don’t readily change their stripes. Data says they won’t.
I’ve set up a new news-clipping folder with the tab “Lazy, Untrustworthy Political Hacks.” Five names dominate so far: Pelosi, Schiff, Schumer, Romney and Bolton. If these were cats, I’d be contemplating burlap. Because in my view, public service is supposed to be different than self-serving, but I’ll be damned if I can see the public good from this tag-team clown squad.
One for one witnesses is the only fair way to play the witness game, if it goes that way, Bolton for Joe Biden and Ciaramella for Giuliani (an “Italian job?”) With a focus on unauthorized disclosure of WH information and a criminal referal? Did not the whistler go Schiffty-Schiff’s aids for coaching and drating? How about calling a former president and his phone records to all involved and the media leaks? And let’s stand-up some media sell-outs who got it all wrong on Russia influence that never happened. Yeah, this could be a whole new ongoing fiasco for a decade to come…
And we gotta wonder how Hunter will do under hard cross examination…don’t start me. Why do I keep seeing the word “Conduit” when I close my eyes?
The media that hasn’t published the name Ciaramella (alleged whistleblower and variously spelled) has, in our view, thrown-in with the attempted coup against a sitting president. The Senate ought to dismiss and move on. If I can find a name on the internet, close enough to “public figure” for any journo worth 10-cents. Truth is the ultimate defense and we think Trump supporters ought to remember that.
These two-bit politicals hacks in DC are more contagious and damaging to America than Wuhan virus, know what I’m saying?
Sheesh! Where was I?
Oh, yeah. Numbers to drive, so into the…
Report, just out:
Doesn’t paint a picture of a rock-em-sock-em economy does it? Which gets us to clinically asking besides the Fed going deep with QE’s and “free-po depot” chits, where’s the beef?
Left Aims at the Supreme Court
ISYN. Am I the only one who know what the word “Supreme” means? (Outside of Motown, I mean…)
Well, here we go again…more Obamanista-like behavior (Marxists dressed in constitutional lawyer garb)…so pay close attention:
Trump administration won a HUGE Supreme Court case. Basically said that if people come to America, unless they can demonstrate a way to NOT become a burden on the government (which is you, me, and our checkbooks), they can be denied a green card.
Reasonable? Absolutely. Great, right?
Well, not so fast. I guarantee you what will happen next: The lefties and open border idiots are already out “judge shopping” to every appeals court in the nation and they attempt to block this from happening. You see, to the mush-headed, open borders and Trump-hate are more communicable than Wuhan.
And they will be cheered-on by commie sympathizer-sounding bauble-heads on the Hill who are part of the Uprising Against America – intent of turning the U.S. into a Central American shit-hole workalike.. Oh, look! Right on cue: “AOC rips ‘shameful’ Supreme Court ruling allowing ‘public charge’ immigration rule.”
Ding! Ding! Low-information voters like free-lunchers including Bernie and AOC.
We dangerous Thinking People already know “Socialists Never Pay – Working People Get the Tab.” They stick it to their victims.
Easy to see where these pickpockets are going with their reverse discrimination (victimology) and country-busting inciting to insurrection. Which is what such judge-shopping comes down to…
My God, it’s an embarrassment. Who would have EVER believed that America would see radicals left of Vladimir Putin sitting in the U.S. House of Representatives and Senate?
Which explains the data as we spied on Business Wire: Satisfaction with Federal Government Drops Again, American Customer Satisfaction Index Data Show.
We is, as Pogo might have said, not suhprised.
Demography and Climate Notes: Hotel offers free stays for couples who make babies. But seriously the B.C. Outback? Do we need more Canadians? I thought China owned that Franchise? ROFLOL…
NY Times is doing people’s thinking for them in The Coronavirus: What Travelers Need to Know. Let us lend a hand, as well: “Stay the f8ck home.” (Maybe I could get a writing job in NYC, think?)
Since gambling in stocks is in record country, you know what else to expect, right? Record number of bets expected for Super Bowl.
Silly-sighten? A dose of ‘magic mushroom’ drug reduces anxiety and depression in cancer patients, study says. Butt-load of kush might work, too, you know.
Off to await the Housing Data so look for a second post when that crosses…
Peoplenomics tomorrow – best $40-bucks you’ll spend outside a liquor store or marriage license (if you get one of the 50% that works out)…
This Turn around Tuesday has been brought to you by the N Y Fed Repo desk, with $85.70 billion worth of financial gasoline. Stand back and rally ho!
Write when you get rich,