AAPL, AMZN on Deck Tonight. Bonds Make New Lows

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I want to tell a quick story from back in my floor-trading days in Chicago. Many of you know of Marty Schwartz, AKA the PitBull. Well the PitBull used to put his trades in through my desk and so we talked quite often.

We’re good friends now and see each other quite a bit too. Back then though, I lived and worked in Chicago and he lived in New York City. Well, whenever I would go to NYC to meet with old and new customers, I would see PitBull as well.

Most of the time the trips were simple: I’d fly from Chicago to New York, stay at a nice hotel, meet with who I was scheduled with and fly back home. But something odd always seemed to happen when I left for New York: The markets would sell off!

Not every time of course, but it happened enough times that it got to the point where even the PitBull said something to me. “What the hell Danny, every time you come to New York, the markets crash!”

Well we may not be setting up for a crash right now, but the first two days of August haven’t exactly been a great start for the bulls. At yesterday’s low, the S&P was down about 2% so far for the month and as of 7:45 a.m. ET, we’re trading below yesterday’s low. Bonds are taking it on the chin, too.

Oh…and did I mention that I’m out of town and back in Chicago for the first time in years right now? Very superstitious