Friends The bears rolled out the big guns today-first a WSJ article on Papa Bear George Soros (85) and then Carl Icahn (80) was on CNBC this morning. Both predicting gloom and doom for stocks, which is fine (everyone is entitled to an opinion), and goodness knows...
Friends Stocks continue to slowly climb towards the old highs in a very quiet and deliberate manner. The bears seem flustered and frustrated as the mountain of reasons for stocks to go down doesn’t seem to be enough to stop the bulls’ climb. Today’s JOLTS number...
Friends Stocks added to yesterday’s gains but seemed to run out of gas as the afternoon wore on. Once again, we are getting back close to the highs in the S&P 500 and the Dow, but we’ve been here before and were unable to break through. The “sell in May and go away”...
Friends In the aftermath of last week’s dreadful employment report, market participants seemed to be resigned to the fact that the Fed has to back off their intent to raise rates in June or July. Stocks rallied in early trading, dipped a little when Janet Yellen began...
Friends There is really only one way to describe the jobs data that was released this morning- TERRIBLE. Instead of the 158,000 new jobs that were expected to have been created in May, there were only 38,000 new jobs created. Yikes. Not only that, but previous months...
Friends Well, it worked. We closed the office today in anticipation of additional flooding in The Woodlands area and sure enough the major rain mainly avoided us. Now, at least, we know how to stop the rain. As for the markets, it was a quiet day, though we did have a...
Friends The first trading day of June was a classic reversal day. Oil was down early and reversed course, and stocks also were down early (122 Dow points) and reversed course. Were stocks just following in oil’s footprints? Perhaps, at least it appeared so today. A...
