Amazing Stock Action On Earnings But...
Investors are looking through some bad news.
The issue though is if this trade war gets extended as Secretary Wilbur Ross acknowledged today. The major reason for the tech slowdown is CEOs waiting for trade resolution. If that resolution gets pushed out we have further fundamental risk.
In the meantime the market is still pointing up short term. We're thinking that there's some near term risk but dips the last couple of days have been purchased showing some support.
We'll take it step by step.
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