E Market Briefing For Tuesday, Jun. 8

Benign market behavior generally persists, as an out-of-the-box rally effort to start Monday was reversed, as is typical since traders want a pullback first.

This consolidation may persist a bit on Tuesday, although speculation about a more-feisty Federal Reserve discussing their initiating 'tapering' is a focus that omits how many stocks have internally been correcting for months now. Sure, though FANG types remain not just vulnerable, but sometimes very risky.

The 'tax' Agreement by G-7 on Saturday (mentioned in the weekend report), for some reason had pundits surprised that the market wasn't more negative. My gosh, corporations have to pay something, with global cooperation they're getting an even playing field, and it reduces incentives to offshore the (at least official) domiciliary of US companies. The 15% deal may be simply favorable. Hence it might actually be a 'sigh of relief' for worried corporations.

(A whole lot of improvements to everything from Maps to privacy. This will be macOS Monterey, and similarly to IOS15. Some 'soon', others in the Fall.)

Meanwhile . . . I spent time listening to Apple's WWDC Keynote and aside a few graphics I'll share of 'tweaks' and improvements, I really thought they are making progress not just in privacy, or digital transformation, but integration or syncing between Apple platforms. I especially liked the ability to not just use a second device (like iPad or even the MacBook Pro) as a 2nd monitor, but to use a single keyboard and trackpad or mouse on your Mac to control both (AAPL).

I do that right now with an iMac and an adjacent 32" 4k monitor, so it will be a new experiment to see if I can simply add my MacBook Pro as a 3rd monitor.

(I sort of do this now, but single keyboard/mouse controlling all is welcomed.)

The Biogen (BIIB) approval for an Alzheimer's drug is obviously welcomed and very well discussed in every media, so I won't attempt to explore that. I will observe that the outsize response of Biogen shares refocused a bit of attention on the other stocks working in key areas, not just Alzheimer's. Amarin's (AMRN) Vascepa for sure has been a lifesaver for me (aside surviving severe COVID)...normalized lipids, and remember, it's being considered as also helpful with dementia and even Alzheimer's, because it generally reduces plaque in the bloodstream. I'm actually surprised, aside the stock, that even with advertising more physicians are not aware or prescribing it. It actually works and I'm not a spokesman :).

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William K. 1 week ago Member's comment

An interesting marketing effort here.

Gene Inger 1 week ago Author's comment

What marketing effort? I don't get paid by TalkMarkets; I do not allow advertising on my ingerletter.com website or in my reports sent by email to our subscribers; and it's the sole income. It would be nice to be compensated by at least a few of the many readers of my 'free' reports posted here. Thanks sir.

William K. 6 days ago Member's comment

The glowing description of all the new Apple offerings came across to me as a marketing effort.It was undoubtedly intended to show why the stock prices rose,, I suppose, but it seemed a bit like many of the releases that I have seen.

And it was uncommon to be found in his particular venue. I did not intend to cast aspersions, or stones. Sorry.

Gene Inger 1 week ago Author's comment

P.S. I didn't intend being grumpy; but I'm in pain; recovering well for the most part (other than the wound) from Covid; and have returned to putting my heart & soul into this passion. And been right about the market for a few years straight; avoiding shorting the S&P too. So it's reasonable to expect some new members from the 'tire kickers' after this long a time. I could retire and just go to Puerto Vallarta; but it's not healthy there yet haha.