1) Boeing Hits Bottom, as the US becomes the last country to ban the 737 Max 8. Imagine being 35,000 feet in the air and you find out your plane is grounded for safety reasons, as 6,000 people did yesterday. Buy more (BA) on the dip. The next move is from $360 to $450. Click here.
2) New Homes Sales Down 6.9%, in January, far worse than expected. The report is an unmitigated disaster for the industry. If you’re trying to sell a house now, you’re screwed. Click here.
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3) Weekly Jobless Claims Jump, by 6,000 to a seasonally adjusted 229,000. Notice claims aren’t calling anymore. Another sign the tax cut stimulus is shrinking? Click here.
4) The Number of US Millionaires Grew for the 10th Year, to 11.8 million. And some 1.4 million are worth $5 million to $25 million. You’re obviously not working hard enough. Click here.
5) General Electric to Burn $2 billion This Year, but the stock rallies anyway. We may be trying to put in a long term bottom this year. Buy (GE) on the dips. Click here.