Venezuela Imploding -- July 31, 2017

There are going to be a lot of articles in the mainstream media with regard to what might happen if the flow of Venezuelan oil is cut off. I've talked about this so much over the past several years in an indirect way, I have no interest in opining on what might happen with regard to Venezuela and oil. For now, I won't blog on that; I've simply grown too tired / bored with the subject. Perhaps for the archives, I might link headlines but that's about it. It will be a fascinating story to watch. I will blog about it eventually, I assume, but not for awhile.

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Futures Mean Squat

Having said that, holy mackerel ... have you see equity futures this evening! The Dow 30 has been climbing all night; right now, Dow 30 futures are up 82 points; the Nasdaq up 21 points; and the S&P 500 is up 6 points (again, futures at 9:21 p.m. Eastern Time). [At 10:05 Eastern Time, Dow 30 futures are up 94 points. I've seen this movie before. By tomorrow morning, the market will open down. LOL.]

I can  hardly wait for the early morning presidential tweets. LOL.

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North Korea Keeps Launching ICMB Missiles .. and No One Seems To Care...

... and no one is commenting on that, that no one seems to care. Not only does no one seem to care, but the stock market continues to surge despite the fact that North Korea is launching ICBM missiles on a daily basis, it seems. The most recent ones are able to reach the US, and the US military now suggests that within a year, North Korea will be able to launch these missiles with a nuclear weapon on top, like a cherry on a sundae.

This begs the question: would the market be hitting new records under these circumstances if a Jimmy Carter were president? if a Barack Obama were president? If a Gerald Ford were president?

I don't know. But for all the crap the mainstream media gives President Trump each day and for all the crap the opposition party gives President Trump each day, one gets the feeling that not only is everyone sleeping well at night because he IS president, but they are so comfortable with him as president at this particular time, they have no problem driving the market higher.

It doesn't hurt that he is surrounding himself with retired general officers who have served in South Korea and who have studied North Korea for decades.

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The Apple Page

This past quarter (2Q17) is a "dead quarter" for Apple. No one cares what Apple reports this week; everyone is interested in the third quarter (3Q17) with the new iPhone release, and, of course, the fourth quarter -- the holiday quarter -- the big quarter for Apple.

But this was the great insight I heard on CNBC today regarding Apple. People shorting Apple are spreading the story/rumor that Apple might miss its launch date for the new Apple phone. Here's a little secret: no one cares. People are so used to delays in getting their new Apple products (for whatever reason) that a launch delay is  ... well, yawn.

Helping put this in perspective, of course, Tesla "always" misses its deadlines and no one cares, least of all Musk Melon.

There will be a lot of talk about Apple missing its iPhone launch date over the next few weeks.

And, no one will care. Next subject.

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TCM

I really, really enjoyed the hour-long special on TCM tonight, a repeat showing of the 2017 recipient of the AFI Life Achievement Award, but how in the world did Diane Keaton ever win this award?