D&D Note (4.9.2018) ~ 440 Point Rally Fizzles Into 46 Point Gain ~
The markets went full blast rally mode today following Friday’s session which tested technical levels. Around 2:30pm EST the DOW was up 440 points, however then began to sell-off. Near the close the news broke of the FBI raids on Michael Cohen’s offices and homes, Cohen serves as President Trump’s personal lawyer. This sent markets diving into the close and if the actual close was just minutes later we would have saw a down print on the day. Volume was nearly nonexistent today which does not give strong credence to either the rally or the fade we saw in the session.
Tonight we have China’s President Xi Jinping speak and all eyes will be watching to see how he responds to the latest proposed $100 billion in Tariff’s. One possible course of action would be the devaluing of their currency. The last time that happened in 2015 the ripples spread throughout the global markets.
We also might get word from the White House tonight on possible action again Syria in response to the latest chemical attack.
Tomorrow we have Facebook CEO Mark Zuckerberg on Capital Hill answer questions on theta scandal.
An investor would be prudent to have patience now and let more certainty gather back in the markets before making any large trades, buying or selling.
Pot Stocks continued to sell-off today on the crop glut concerns. There was a large pot business conference today in LA with most of the major Canadian companies represented there. Will large American investors change their current mind set on Canadian Pot Stocks after hearing the companies outline what they are doing now and for the future?
Friday we have the all important earnings season kicking off with JPM and other banks reporting. Most investors see this earnings season and the projected 20% growth as the next catalyst to send stocks higher.
D&D movers:
– PYPL up 1.80%
– TSM up 1.53%
– TCEHY up 1.49%
– BABA up 1.40%
– CNTTF down -7.74%
– TWMJF down -6.42%
– IMLFF down -5.38%
– APHQF down -3.93%
Indexes
– DOW up 0.19%
– NASDAQ up 0.51%
– S&P up 0.33%
Sector Movers:
– Health up 0.93%
– Technology up 0.78%
– Materials up 0.52%
– Telecom down -1.17%
– Industrials down -0.34%
– Consumer Discretionary down -0.25%
Notes
– US 2-YR 2.278% (up 0.004)
– US 10-YR 2.779% (up 0.004)
– US 30-YR 3.013% (down -0.004)
Volatility
– VIX 21.52 (up 0.14%)
Crypto (1:00 PST)
– BTC $6,678.01
– ETH $395.30
– BCH $630.17
– LTC $113.53
Metals
– Gold $1,340.80 up 0.35%
– Silver $16.49 up 0.78%
– Copper $3.0745 up 0.52%
Energy
– Oil $63.31 up 2.01%
– Brent $68.58 up 2.19%
– Nat Gas $2.699 down -0.07%
D&D Investments 
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