Morning Market Thoughts
Good morning. After a three day weekend, we are getting off to a great start, with the S&P futures up about 14 points, and the Nasdaq up by 45. So the record setting rally continues.Just a couple of stocks I want to mention this morning before the open:
Citigroup (C) beat estimates, though it did take a pretty big tax loss. Because of the new tax law, they had to write down the value of their repatriated cash and deferred tax assets that declined in value. Other banks have also had to book losses on such assets. But traders are shrugging that stuff off and the stock is up almost $2 bucks in pre-market trading. From this move, one can conclude that traders have been expecting these losses. As such, similar reports by Goldman Sachs (GS), Bank of America (BAC) and Morgan Stanley (MS) shouldn’t be a problem. All are up in pre-market trading.
Apple (AAPL) received a letter from four House Republicans asking for more info about the company’s disclosure that it deliberately slows down older iPhones “to prevent shutdowns.” (wink, wink). That stock is also up in pre-market trading. This idea that Apple was somehow doing its customers a solid by slowing down products that they sure wish you’d ditch for their new and improved iPhone is clever; but also disingenuous. I suspect there are other reasons for making older models slower.
Don’t forget about tomorrow night’s Q&A session at 8 pm ET. We’ve received a lot of feedback and suggestions about last week’s training session on managing risk, so there’s a lot to talk about.
See you in the forum this morning.
–Dan
Market Update
Dan.
Great stuff on risk management knowing how to buy should help the bottom line , my size look like they were all to small, can one get a working spreadsheet on the part 5 ( putting it all together ) or how the formula are set up. And do you look at any Canadian stock to trade as I am from the north and our money not that good going to US
Thank for your help