1. Last night after the closing bell, Salesforce.com reported block buster earnings. The stock is trading higher by 26% today. This is the stock that is being added to the Dow Jones Industrial Average (DJIA), so that is positive for the DJIA going forward. This move is also helping a lot of the other leading cloud stocks today. Back in the day it was the railroad average. Now there’s everything, tech, pharma, heavy capital goods and now cloud computing. They have a tendency to get rid of under performing stocks and put in higher performers. Nick believes they added Salesforce to offset the Apple split. It’s really a nod towards the Cloud.
2. Dow down a little S&P Nasdaq up a little. Oil up a little bit. Transports are flat. Nasdaq is up 28% and S&P is up 6 percent. Other indexes are down. S&P was underwater and in up. You need to make the most money on the turns. Easy money is over.
3. Upside reversal in gold and silver almost every down tic gets bought. When consumer confidence slides, gold goes higher. Nick is a long term bull for the metals.