Market Update: Hong Kong Risk Building

Non-Farm payrolls continued their slowing trend seen all year. We previewed to subscribers that weekly jobless claims previewed a light NFP number.

Slowing isn't great for markets. Jobs are probably the most important economic indicator to market traders.

The Fed appeared to preview a rate cut in 10 days. The Street expects two cuts this year. We'll see what the Fed previews closer to the Fed meeting.

I did not like this.

Hu Xijin tweet
Hong Kong's Carrie Lam said there would be no China troops just a few days ago. The tweet above however is more recently from China's state run media editor-in-chief. These are very strong words. Anything close to reality will not be good for markets.

I didn't like stock market action on Thursday. I thought markets should have ripped higher. Friday was nothing but I turned much less bullish on Thursday. Tech fundamentals are good but I think this Hong Kong issue is a building risk.

The above is taken from today's Portfolio & Trades Update to subscribers. Along with our full big cap tech coverage and outperforming stock picks, subscribers receive our market commentary for each trading day. To sign up for a Free Trial Click Here.

Here's a list of companies we're speaking to or following this week at Deutsche Bank's Tech conference: TWTR, WDC, GOOG, GOOGL, CYBR, SHOP, CDNS, AMD, QCOM, AAPL, CRUS, INTC, ANET.

All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless. We have no holdings in the stocks mentioned unless otherwise noted. All trades are hypothetical to show rating and opinion. All trades exclude relevant transaction costs.

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