28Feb3:50 pmEST

Mr. Market: If You Were Me, Which Sector Would You Fire?

The selling today in front of President Trump's speech to a join session of Congress tonight sure is building tension, not unlike the famous television "boardroom scenes" we saw in The Apprentice years ago. 

The issue becomes which stocks and sectors could rally or get hit off Trump's remarks tonight. I am not too interested in front-running the speech either way, since it is apparent that the Trump Trade sectors (materials miners, steels, infrastructure, etc.) have already run and have been correcting of late. So, we will see if they catch a bid and come out of their pullbacks. 

In terms of healthcare, I am frankly more interested in how a winning stock like VEEV reacts to earnings after the bell than to the speech tonight. VEEV has been a big healthcare growth play, and if that continues tonight we are going to keep a few other plays on watch. 

Overall, the small cap weakness today in light of yesterday's strength is most concerning, short-term, even as small cap biotechs outperformed again. The IWM progress from yesterday has given up the ghost for now, and that is a near-term yellow flag for me.

More in my recap after the bell. 

Two Charts for Good Perspect... Stock Market Recap 02/28/17 ...

 
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