Friends Traders were content to let the month coast into the closing bell as stocks drifted aimlessly for most of the trading session. With next week’s full calendar of economic news including Mr. Draghi and the ECB’s decision on interest rates and the employment...
Friends Despite the GDP number for the first quarter being revised downward to a negative 1%, stocks enjoyed a healthy gain after spending most of the day only slightly in positive territory. Traders are expecting the second quarter to show marked improvement in...
Friends Traders of stocks seemed today to be paralyzed/mesmerized by what continues to happen in the bond market. Despite the improvement that we have seen, though very deliberate in nature, in economic data points, bond yields continue to decline. Folks, bond yields...
Friends A bevy of positive economic data helped move stocks to new highs today, as traders came back from the three day holiday weekend with a shopping list in hand. The durable goods number was much better than expected, the Case-Shiller index showed that home price...
Friends It seemed like after the first hour of trading, market participants headed out for the three day holiday weekend, as stocks basically stood still for the rest of the session. Traders basically dismissed Mr. Putin’s remarks broadcast on CNBC, and both the bulls...
Friends An old saying on Wall Street for trading sessions like today’s trading session is that it wasn’t worth the cost of a clean shirt and cab fare. Very little volume. Very little volatility. Very little overall interest. On the economic front the weekly jobless...
Friends Ladies and gentlemen, we have a market that has no memory on a day to day basis. It looked like the bears had everything going their way yesterday, but here we are today and stocks basically regained everything they lost yesterday. Yes, the Fed minutes came...
Friends Poor earnings reports from several retailers weighed on stocks today, as the market averages spent the day decisively in negative territory. Of course, the winter weather was cited as the main reason behind all the disappointing results, but perhaps market...
Friends Neither the bulls nor the bears seemed very interested in today’s stock market action. Volatility was very low and volume was light as stocks drifted mainly in positive territory for the entire session. The bears thought they might have something going before...
Friends The bulls waited around for most of the trading session to see what the bears’ next move was going to be, but the bears seemed to be content with the disruption they caused on Wednesday and Thursday. Finally, in the last hour of trading, the bulls decided to...
Friends Stocks were battered today following comments from a conference in Las Vegas last night by hedge fund manager David Tepper. Tepper in a Q &A session let the audience know that it might be a good idea not to be fully invested in stocks right now. This is a...
Friends Stocks fell early and often today after the government PPI report indicated that inflation is hotter than possibly the Fed expected. But the most fascinating part of the story is not that stocks fell, but that bond yields also fell (bond prices rising)....
Friends The bulls were able to penetrate the 1900 level on the S&P for a brief moment today, but very little enthusiasm followed and shares quickly fell back toward yesterday’s closing levels. Before the opening, the Retail Sales number for April was soft and...
Friends Stocks got off to a good start for the week, as the lack of any cataclysmic news out of Ukraine (Putin was too busy racking up six goals in a “hockey game”) allowed traders to shop in peace today. Many of the recently beaten down high flying momentum stocks...
Friends It was another listless day of trading (despite market averages dancing near all-time highs), as traders seemed mostly uninterested in participating on either side of the ledger. There was a little bit of volatility, but as we pointed out yesterday, there is...
