31 Years Ago Today!

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31 Years Ago Today!

So before we know it, we’ll be bombarded with the sales events of Black Friday. Let me be the first to throw that term out to you this year, as today is a Black Friday of sorts as well. 31 years ago today, in 1987 we witnessed one of the biggest single market smackdowns ever: Black Monday. While it’s not a Monday, we have some very weak price action going on that makes me think and act cautiously now. I’m not saying we are in for a washout. I certainly hope not. However, I am saying that bullish market environments don’t punish robust earnings. I’m saying that when three key sectors are drifting below their 200 DMA, it makes for an uphill battle market-wise. Join me from my desk in Fort Lauder dale as we discuss this, plus a little baseball.