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MoMo Pain Is Contained, For Now

Daily Rap 08-17-2018

The Dow and S&P were unchanged through midday, while the Nasdaq was off about 0.5%, as the chip sector continues to trade lower. Last night Nvidia was unsuccessful at beat-the-number, as was Applied Materials.

When Will the Present No Longer Get a Pass? It is now pretty clear that the problems that have been ignored, which are largely related to saturated end markets, are starting to matter (of course, in the past these issues would have had the entire sector much lower already). Thus, it will be interesting to see how this all plays out. While a lot of companies in the chip sector are liable to be good candidates for puts or shorting, trying to make money (more precisely, risk management) is complicated by the chaotic nature of how the...more

Last year's posts for Ask Fleck

Q: Bill-do you have an opinion on Bob Moriarty owner of the site "321 Gold. Thanks.

Fleck: I have never heard of it, sorry.
(posted: 8/17/2018)

Q: No question, but: I feel like "panic" selling my PM and PM Stock positions. In the past, that feeling has nearly always called a bottom, at least for a trade. So I guess I will stay put, since I have learned a bit of patience in this complex.

Fleck: Hang in there. We are close to a turn. It will be big when it happens.
(posted: 8/17/2018)

Q: I just did not expect this beating! At what point do we just punt on our disbelief in CB policy? Tell me why the dollar will not be the only alternative?

Fleck: I can't deal with total "give up" kinds of hypothetical questions.
(posted: 8/17/2018)

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The bottom's in...