Friends   Today’s CPI number came in as expected and this afternoon’s 10 year treasury auction went off without a hitch, both leading to a calming of the bond market (rates stopped going up). With the fixed income markets neutralized for the moment, stocks...

It was another odd day of trading with the Dow sporting a nice gain, the S&P 500 lower, and the beleaguered Nasdaq once again left holding the short straw. The culprit again was the bump up in the longer term yields which puts pressure on growth stocks, but seems...

Friends Wow, what a wild day of trading. Things began with a stronger than expected jobs report which sent long term interest rates higher. The paradigm has been rates higher, stocks (at least tech stocks) lower. But, market participants seemed a bit confused today....

Friends   Market participants threw a little tantrum today when Fed Chair Powell indicated that, though the Fed was indeed concerned about the back up in longer term interest rates, they weren’t ready to do anything about it. In other words they are not ready to...

Friends   It was another ugly day for the Nasdaq, as the high flyers of the pandemic era continue to see the air let out of the bubble. Bubble, you ask? Well, yes. When stocks begin to trade at ridiculous multiples not only to earnings but just to sales, then...

Friends   Stocks gave back some of yesterday’s gains as the bulls seemed to back away from the table just a bit. Again, the tech heavy Nasdaq fared the worst as many of the big name darlings saw selling pressure. But it wasn’t a day of rotation as recent winners,...

Friends   It was a very good start to the new month for stocks today. Perhaps more vaccines getting into circulation and the hope that those who want to be vaccinated will be so within the next couple of months, helped stir animal spirits in market participants....