Stephen "Sarge" Guilfoyle is the founder and President of Sarge986 LLC, a family run trading operation. An NYSE floor trader for over 30 years, Guilfoyle has served as the Chief Market Economist for Stuart Frankel & Co., the U.S. Economist for Meridian Equity Partners, and as a Vice President in Block Trading and Investment Banking with Credit Suisse over the years. Guilfoyle earned his nickname serving as an actual sergeant in reserve components of the US Marine Corps, and US Army while simultaneously working on Wall Street.

On Thursday alone, we experience both free-fall, as well as a raucous rally.
Overreaction seems to be what markets are good at in this 'golden age of electronic trading.'
| Feb 14, 2018
| 9:01 AM EST
Dow Futures down over 300 is oversold.
The Wealth Effect is what former Fed Chairs Ben Bernanke and Janet Yellen aimed for with their QE program.
I'm not optimistic about Trump's infrastructure plan, but defense stocks, Halliburton and Schlumberger are another story.
Both should hold up well if inflation heats up.

Closing Bell Real Money Pro($)

Wild day. Wild week. Not that much fun at all if you ask me. For the day, the Dow Industrials gained 1.4% after gyrating over a 1,022 point range. The S&P 500 scored a 1.5% increase while rocking back and forth over a 106 point range. The Nasdaq Composite picked up 1.4% as well. Small Caps saw smaller increases in prices. The Russell 2000 picked up less than a percent.

Final Hour Real Money Pro($)

Final hour of play in the period. VIX stable. Dollar stable. Ten year stable. Oil crawling to the finish line. Still equities struggle as soon as we get to 3 pm. The real signal will likely come at 3:45 when folks start gaming the closing imbalances. 2/10 spread hasn't budged much.

Green Is Good Real Money Pro($)

Gordon Gekko, in the movie "Wall Street", once stated that "Greed is Good". I have substituted the word Green for Greed for much of my career when the broad equity indices would rally from deep in the hole all the way to the plus side.

Rough Afternoon Real Money Pro($)

Dollar rising. Entire commodity complex deep in the hole with equities. Even Gold, which you would think might as act as safe haven. At this point you are dealing with margin calls, as much as any volatility unwind. Margin calls have a negative impact on sentiment deeper than the action itself.


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