Friends ECB President Draghi threw everything but the kitchen sink at the markets yesterday, but the reaction was very muted. Perhaps market participants had a change of heart. Long Live Central Bank Intervention. Indeed, after yesterday’s collective yawn, the bulls...
Friends ECB President Mario Draghi came armed and ready to today’s press conference, announcing further rate cuts and expanding QE, which will now include the purchase of corporate debt as well as sovereign debt. Like Pavlov’s dog, markets responded accordingly with...
Friends The bulls had the upper hand for most of the trading session today, but seemed to run out of gas in the last hour of trading. A nice rally in oil helped spark a rise in energy shares, which accounted for much of the rise in the market averages. Other than...
Friends Maybe the best way to describe today’s trading was sloppy. After an initial drop, stocks rallied to squeak into positive territory by midsession. But as the afternoon wore on, share prices once again slipped into negative territory and lost ground into the...
Friends Today was a very peculiar day for stocks. After early softness, stocks rallied and then gave back that rally, at least in the S&P. But there were some strange divergences as many popular, momentum type stocks found themselves under some serious selling...
Friends Market participants spent much of the trading session trying to decide if the jobs report was good for stocks or not. Actually, there was a little something for everyone. Jobs growth was robust with 242,000 new jobs having been created in February. The...
Friends With politics once again dominating the news cycle, stocks experienced a second day in a row of low volatility and quiet participation. It appears in addition to being distracted by the “incredible” political theatre that we saw today, traders were in a...
Friends It was a very quiet trading session, interrupted only by the death of oil giant Aubrey McClendon (apparent suicide) only a day after being indicted for alleged bid rigging with regards to oil and natural gas leases. This was a stunning development in what had...
Friends Wow! The bulls came over the wall and the bears ran for the hills. Today’s trading session was one where just about anything worked. Well, not if one was short, but on the long side everything seemed to participate in today’s rally. There was no real economic...
