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Building A Trap Door

Daily Rap 07-21-2017

The early going saw the indices slightly heavier, for no particular reason and with no particular theme, near as I could tell. Macro- and company-specific bad news does not seem to matter, although yesterday Sherwin-Williams and Home Depot did see their stock prices decline, and last night Maxim was a bit weak due to auto-related issues. However, the consequences for related companies has been muted.

Out With a Bang Nevertheless, even though bad news is being ignored, I continue to believe that the only way this bubble will be unwound will be in an epic crash. I know I have made that point for two or three years now and it is has not happened, but that does not mean it won't. I think the structure of the market continues to get even more crash-prone...more


Last year's posts for Ask Fleck

Q: Well, Mr. Skin just brought home another good point: those Millennials or whatever they're called who now have twenty+ years of experience with an unbroken Fed put are now starting to enter their peak earnings/investing years. Why shouldn't they load up on the market with every extra dollar? It could take a whopper of a correction to change their mindset and we could have a heckuva rally or two before they give up.

Fleck: True. Then again, maybe not.
(posted: 7/21/2017)


Q: Gotta respect a man who's willing to publicly reconsider his reconsideration. HA!

Fleck: You have to be willing to challenge your ideas. :)
(posted: 7/21/2017)


Q: Hello Bill,

When I saw the big price drop in both Lowes and Home Depot today it felt like a big deal. What do you think? Is it important as it pertains to investors finally recognizing the weakness in consumer spending?

Regards

Fleck: I thought it was important, but didn't write about it because it didn't seem to matter. I think it shows economic weakness for sure, but that doesn't seem to matter yet.
(posted: 7/21/2017)


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