Ugly day. Period.

I guess rising interest rates, trade wars and inflation are not fantastic for the markets.

I will get right to this week’s episode of Momentum Monday. Here is the link, or watch below:

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in oand will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.

During the last few Momentum Monday’s I talked about the chasing and the rampant speculation. Here is last week’s post where I discussed the frenzy and worried that the emerging market flu would spread.

Over the last week it is the airlines (19 month low) and the homebuilders that really keeled over. The Dow is down on the year (first time below 200 day moving average since the election) and the S&P is flat. The emerging markets mess continues.

Last year by many measures was the least volatile in market history and this year is shaping up to be the most volatile.

Today, they came for the beloved Chinese stocks, enterprise stocks and FAANG.

I like this David Tepper quote that Ivanhoff reminded me of today…’There are times to make money and there are times not to lose money.’