It was a mild day to start the trading week as everyone seemed to be outside looking up at the moon and sun as they crossed paths. Trading volume was lower than a snakes belly in a wagon rut as the Dow was up 29 points to 21,703. Tech and bank stocks were off while Home Depot provided most of the upside for the Dow. The Put to call ratio is up at 1.14 which indicates markets may be at or near a short term bottom.
Shares of Fiat Chrysler were up today on speculation that a Chinese maker of SUV’s called Great Wall Motor is aiming to buy out the Italian American car company in order to get control of the Jeep brand. Peeps at Fiat said they have not been approached by Great Wall but Great Wall CEO Wang Fengying told Automotive news that his company intends to buy Jeep. Fiat currently ships an ever increasing number of Dodge and Jeeps to Asia via the Port of Aberdeen. Shares of Fiat are up 6.4% for the day.
The scout trip was great. The group I was in hiked 53 miles in 6 days and topped a mountain called Little Costilla at 12,548 feet. The scouts spent an hour on the summit before heading back down. The trip was set up so that the lunkheads cooked, cleaned and did all the work while we adults laid around and ate bonbons. We saw deer, antelope, wild turkeys and a bear. The hike was historic in that Philmont is set up to teach the history of the area while we hiked. The weather was good. It rained during daily afternoon thunder storms but was dry the rest of the time. “Valle Vidal” is one of the prettiest valleys I have ever seen. It was nice having John do the blip while I was busy making blisters.