Friends It was another roller coaster day for stocks on this last trading day of the month and quarter. Stocks spent time in both positive and negative territory throughout the day, as traders couldn’t make up their mind if they wanted to end the quarter with a buy...
Friends Before the Fed statement which was released at 1:00 our time, stocks were just biding time, basically straddling the breakeven line. But the statement, which was a bit more bullish/hawkish than we have seen, seemed to reinforce the notion that interest rate...
Friends With a backdrop of students protesting for more democratic freedom in Hong Kong, stocks tumbled decisively in early morning trading with the Dow falling as much as 178 points. But as the day wore on, bargain hunters started picking at the pieces and prices...
Friends I don’t know about y’all, but I feel a little nauseous having been on this stock market roller coaster this week. After yesterday’s mess, stocks rallied hard today, not quite recovering all of yesterday’s losses, but nice gains regardless. The final revision...
Friends As I mentioned yesterday, today illustrates why we stay out of the prediction game. After yesterday’s gains in stocks, today was a total mess. Despite a mundane overnight futures market, stocks took a dive right from the start of trading and kept falling...
Friends Once again, just when it looks like the bears might have something cooking, stocks turn right around and head higher. Today, buoyed by a much better than expected New Home Sales number (some claim distorted), stocks rallied in early trading, and added to gains...
Friends Another difficult day for stocks, as buyers seem to be on strike after news of bombing overnight in Syria and, of course, last week’s drama with the Fed. There was smattering of green today on my screen, but for the most part the bears had control of the...
Friends Stocks took a bit of a beating today, as buyers just seemed to be absent after all the hoopla over last week’s Fed meeting and the Alibaba IPO. Another disappointing housing report (Existing Home Sales) didn’t help matters any, and gave the bears something to...
Friends While market participants waited for Alibaba to begin trading today, early action in the trading session was positive due to the “NO” outcome in Scotland as the move for independence failed for the moment. Finally, in late morning trading, Alibaba (the largest...
Friends As market participants wait for the results of the vote in Scotland, stocks enjoyed a hearty rally, as the bulls built on the aftermath of the Fed statement yesterday and the better than expected weekly jobless claims number this morning. Tomorrow will bring...
Friends Well, the language from the Fed statement released this afternoon really didn’t change anything. The verbiage of keeping rates low for a “considerable time” did not change, so the report out of The Wall Street Journal yesterday was basically correct. Now, the...
Friends Word from the Wall Street Journal’s chief Fed watcher this morning, that perhaps the result of the FOMC meeting will be no or little change in the wording for how long the Fed intends to keep interest rates at zero, put the bulls in a good mood and stocks...
Friends Stocks were mixed today as the NASDAQ, laden with some high flying growth stocks took a hit, while the Dow traded in positive territory. It is believed that growth fund managers are making room for the Alibaba (the large Chinese internet-based e-commerce...
Friends Stocks sold off early today and spent the afternoon trying to recover with little success. The culprit seems to be the quick move up in the yield of the ten year Treasury Note from about 2.30% to above 2.60% in the past week and a half. At some point in our...
Friends After a quick morning sell-off (perhaps market participants were unimpressed with the Presidents “plan” last night), stocks recovered some in afternoon trading. Nevertheless, the week has been marked by directionless trading and a lack of commitment from both...
