Daily Note

The Screwdriver

Jul 11, 2018

Thomas Thornton

President Trump is in Europe this week at the NATO Summit, then headed to the UK to meet with Prime Minister May (if she’s still PM) then the big one on one meeting on Monday with Vladimir Putin (ask for a Screwdriver at your local bar in honor of this meeting) In typical form, President Trump said that the meeting with Putin might be the easiest of the them all.  He might be right!  About 15 minutes into the meeting with NATO members he’s done his best to insult Germany and other members for not paying enough into military budget.  He really hit a nerve with Germany since the country is still in shock with the quick exit from the World Cup.  And we should also mention last night news of $200 billion more targeted tariffs with China.  The markets dropped at the onset of today’s trading around the world yet the standard play book to buy the FANG’s is working once again.  Yesterday a couple of the FANG custom indexes did get the upside DeMark exhaustion signals and notably Amazon is on day 12 of 13 with its upside Countdown.  This mindless strategy of buying these mega caps won’t work forever. 

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