Friends Trading for August came to a close today and not a moment too soon. What a month we had. The final tally shows the S&P 500 down about 5.5% for the month after being up 5.97 points today to close at 1218.89. The Dow Jones Industrial Average finished the day up...
Friends, A lot of news today, but not a lot of price action. This morning we received an awful consumer confidence number (the worst since April 09) which indicates that sentiment is deteriorating. After what we have had to witness in August (ugly politics, collapsing...
Friends, Stocks enjoyed a very nice rally today with the Dow Jones Industrial Average up 254 points and the S&P 500 up 33 points to close at 1210. Even though volume was light, it was nice to see the S&P climb above the 1200 resistance level. If we can hold here for a...
Friends, Wall Street was preparing for two Hurricanes this morning. The first was Hurricane Bernanke whose speech at Jackson Hole, Wyoming was set to wreak havoc on the markets. Was there going to be an announcement of a QE3? As we pointed out earlier in the week, we...
Friends There were a lot of things for the markets to deal with today. First and foremost, there is a rather large hurricane bearing down on the east coast of the United States that looks like it will make landfall this weekend. There could be a lot of damage and...
Friends We finally got a little unwinding of the relentless fear trade today as both gold and Treasuries securities sold off and stocks rose. Gold was the story of the day falling as much as $100 per ounce at one point. Treasury yields rose as prices in Treasury bonds...
Friends The news of the day was the 5.9 magnitude earthquake that hit the east coast. Amazingly, it was felt all up and down the east coast as well as places as far away as Ohio and Michigan as well as Canada. Stocks were enjoying a nice day right before the quake,...
Friends “At the end of every hard earned day people find some reason to believe.” Recently, I had a request to include some more song titles and lyrics into the daily updates, and I thought what a better time than today, at the end of the third week of market mayhem...
Friends After a nice calm Wednesday, where the Dow was up a mere 4 points, this morning promises to provide plenty of fireworks and some additional volatility. Rumors in Europe once again center around European banks, and the markets around the world are lower as gold...
Friends As we pointed out this morning, the craziness is back as stocks fell more than 4% on the S&P 500 again today, albeit on a bit lighter volume than last week. The Dow Jones Industrial Average closed down 419 points after being down more than 500 points late in...
Friends Stocks were down from the start today with the Dow Jones Industrial Average down as much as 190 points early in the session, but as the day wore on, shares attempted to rebound and the DJIA finished the day down a quiet 77 points. Decent economic news...
Friends, Since the drubbing that stocks took last Monday and Wednesday, we have seen a very nice three-day rally, which by the way, no one seems to care about or like. Traders don’t seem to really believe what they are seeing and continue to worry about tomorrow’s...
Friends Stocks had an upward bias today right from the start despite an awful consumer confidence number (is it any surprise that consumers would be cautious given the circus they have been exposed to over the past 30 days?). The Dow Jones Industrial Average was up...
Friends For the 4th day in a row, we had a move of over 400 Dow points. That is a record. This time we were back up with the Dow Jones Industrial Average closing up 423 points, after being up as much as 540 points, to finish the day at 11,143. The S&P 500 closed at...
Friends Well the best thing I can say about today’s market is that it was an orderly decline. Unfortunately we wiped away yesterday’s gains with the Dow Jones Industrial Average falling 20 points. We started the day falling more than 430 points, then recovered by...
