1. Yesterday, the markets staged a solid rally led by the Russell 2000 (IWM). Remember, the Russell 2000 Index represents small cap companies in the United States. That is definitely a positive in the near term. The Russell 2000 Index has been a laggard since 2018 is now making new all time highs and is up 9.0% this year. The Russell declined the least during the September sell-off and now it’s showing leadership. Financials yesterday were very strong. Even Wells Fargo is up 7% today. Citi 4% BOA 3.7% Transports up 2.2%. Volume is extremely light. Yesterday’s volume was anemic. Easily manipulated.

2. Energy stocks have been surging higher along with financial stocks. These 2 industry groups were laggards and now show some strength. Believe it or not, money seems to be leaving technology and is now going into these sectors. I think that is a good thing in the near term. $45 per barrel. Sector is on fire. Is it vaccine driven? Refiners are on the rise. Oil services are up 6.5%

3. Tis the season. Elan Musk just passed Bill Gates and is going after Jeff Bezos. Yesterday’s rally upped his net worth by $7.2 billion and probably another $5 billion today. He’s got a lot of other businesses going.

4. Gold/silver getting hit today. Down to $1800. GLD down. Nothing terrible going on. Shake out the weak hands. Miners will find su