An important letter written by Stephen Todd, who was Ranked #1 in 2017 by the venerable Timer's Digest with a 31.6% return for 2017. In this evenings letter, Stephen makes a case for a rally in stocks tomorrow. Perhaps more importantly, as of today Feb 20th Stephen changes to Bullish the US Dollar & Bearish Gold, Silver & the Euro - Robert Zurrer for Money Talks
For Tuesday February 20, 2018
Available Mon- Friday after 6:00 P.M. Eastern, 3:00 Pacific.
DOW - 254 on 976 net declines
NASDAQ COMP - 5 on 963 net declines
SHORT TERM TREND Bullish
INTERMEDIATE TERM Bullish
Editor's note.--- For those of you who missed the interview on Saturday with Michael Campbell, you can hear it by clicking on THIS LINK
STOCKS: A 10% drop for Walmart, its worst loss in 30 years, took 73 points off the Dow and caused selling in other retailers like Target. The struggle for online sales sent a shudder through the markets.
It is our belief that this was a pullback within an uptrend albeit a somewhat scary one. I liked the fact that the NASDAQ and high tech indices were not down nearly as much. Check out the chart.
GOLD: Gold was down a whopping $25. The Wall Street Journal blamed a rising dollar and rising interest rates. I'm not so sure, but I don't have an alternate theory. I'll keep checking.
CHART: The SOX or semiconductor index was up nicely on Tuesday in spite of the drop by the S&P 500 and Dow (right arrow). The SOX frequently leads the broader averages so a rebound tomorrow would not be a big surprise. The other arrows show previous occurrences.
BOTTOM LINE: (Trading)