The Markets are Speaking … Listen Up 

I am watching Wimbledon this afternoon and taking a break from my vacay to look through the markets and catch up. 

It was a ‘wow’ week in at least the US markets. 

Just two weeks ago #Brexit was being talked of as a ‘Black Swan’ global event but by yesterday at the close the S&P was a point from an all-time high. 

It’s easy to be bearish at the moment. We hate the banks, lunatics seem to be in charge of the government and media and gun violence is at all-time highs. 

So let me just talk about some prices and look at some facts and photos. 

First the obvious … Deutsche Bank is a turd:

So is RBS and Credit Suisse. I would argue that’s priced in to markets after months of watching them deteriorate on the front page. 

The bearish magazine cover index is still in high gear. The Economist ‘Italy is Next’ cover likely means Italy will keep muddling along being Italy. 


Acquisitions are happening everywhere again. Not just technology – for instance food. 
Microsoft is trading higher than it did pre Linkedin acquisition. 

The Semiconductor ETF is at new highs. 

Amazon is at all time highs. 

UPS is at all-time highs. 

Uber raising leveraged loan money because I guess they can. 

Zero interest rates. 

The Cloud stocks have a new leader. Zendesk is at all- time highs (I own a smidge). Customer support and service is the product of a world moving to services. Tons of successful private companies in this space too and this space will explode again. 

Digital assets and Physical assets climbing together. 

A little more geeky and technically you also have these two bullish pictures to view. 

The 50 day moving average has finally turned up on the S&P and below we had a pretty darn good day of 497/500 S&P stocks up on Friday. 

Last but not least…even Shitty stocks are bouncing (banks, Twitter, select biotechs). 
Big congrats to the people that were not shaken out of winning stocks in such a miserable news and political cycle.