Major market averages were lower Friday on lower volume though small caps finished up. For the week, political troubles in the Ukraine and continued economic weakness in China pushed global markets down. Indeed, the multi-year lows in copper is somewhat indicative of the lessening demand for the metal by China which is the largest consumer of copper.
Futures are up in premarket trading after Crimeans voted to break away from Ukraine and rejoin Russia. While this vote was expected, the markets breathed a sigh of relief on the lack of any reaction from western leaders, though there will be discussion on sanctions for Russia which could create volatility in the days ahead.
With major averages just off over 2% from prior peak prices, they could easily fall another few percent and still remain in line with the declines witnessed since January 2013, so heed your stops as always.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.