Friends Today marks the end of trading for the month of September and the 3rd quarter, and all I can say is good riddance. Stocks spent the whole day in the red and by the end of trading, the Dow Jones Industrial Average was down 240 points. The S&P 500 closed down 29...
Friends We had some relatively good news to start the day today. First, the vote in Germany went well which allowed the Eurozone to take a deep breath. Then we got domestic news with the 2nd quarter GDP being revised upward to 1.3% from the previously reported 1%...
Friends Stocks decided to give back some of this week’s gains today as the Dow Jones Industrial Average finished the day down 179 points to finish just above 11,000 at 11,010. The S&P 500 was down 24 points to close at 1151. Commodities were all down as the dollar...
Friends The market seems to have run into some resistance at the 1130 level on the S&P 500, but a little breather might just be what this market needs at this moment (though the futures look to be up this morning). It has been a nice ride so far here in September with...
Friends Stocks had a very nice day fueled by a report out of Europe that the Europeans are attempting to create a “TARP” type “bailout” investment fund to deal with capital requirements of the European banks and possibly buy troubled European debt. Like former...
Friends The markets were a little calmer today, other than the precious metals which were pummeled for the second day in a row. Gold was down $90 for the day and was trading around $1651 at the close. Silver was even more damaged, down $5.68 for the day, and over 26%...
Friends Stocks and commodities had a very difficult day today. To add to yesterday’s disappointment from the Fed, today we got news that things could be slowing in China. Stocks went down right from the beginning and began to pick off several support levels. We were...
Friends, Traders waited with baited breath for the Fed release today. We basically got the “twist” that we were expecting, where the Fed will buy longer maturity bonds and sell shorter maturity bonds. The problem is that the Fed’s statement certainly ramped up the...
Friends Well, we had a rally for most of the day, but further disappointment out of Greece contributed to stocks giving back all of their earlier gains that had the Dow up 130 points early in the morning. The Dow Jones Industrial Average finished the day up a meager 7...
Friends Once again, we get in on Monday morning and it’s all about Greece. This story seems to never end. With the clock ticking (Greece runs out of money by the end of the month), and little coming from this weekend’s meetings, stocks took a header this morning with...
Friends Well, today finished off a nice week with stocks up for the 5th day in a row. The Dow Jones Industrial Average was up 76 points and the S&P 500 was up almost 7 points to finish the day at 1216, up more than 5% for the week. After a difficult day yesterday,...
Friends Stocks enjoyed another day of gains as news of the Fed, along with the Bank of England and others are attempting to stabilize U. S. dollar funding for European banks. It seems there has been somewhat of a “run” on several large European banks funding,...
Friends Stocks enjoyed a nice advance this afternoon. After early disappointing economic news here at home (rising business inventories and lousy retail sales), stocks that had enjoyed a little pop at the open, found themselves in negative territory by mid-morning....
Friends We had a bit of a reversal day in the averages as stocks were down most of the day only to rally in the last hour to close in positive territory. The Dow Jones Industrial Average finished the day up 68 points after being down over 175 points. The S&P 500 ended...
Friends The President gave a rousing speech last night. Unfortunately, the reality is that the markets don’t seem to believe much will get done. To put it mildly, the President was slightly vague on how he was going to pay for the initiatives he was touting, which, by...
