Friends   Just a few observations this morning from the road. First, the heartache that our nation feels this morning after the murders at the elementary school in Uvalde, Texas is immeasurable. We have almost become numb to it which might be the saddest thing of...

Friends   Somehow word got out that I was heading off on my first “vacation” in more than three years. Market participants began selling stocks at the open and things continued to deteriorate for the remainder of the trading session. Many of you know my record...

Friends   It was a good day for the bulls as rallies were able to hold up even into the dreaded last hour of trading. About a half a dozen Fed officials, including the Chair Powell were either speaking or interviewed today, and nothing really earth shattering was...

Friends   The bulls tried to add to Friday’s somewhat unenthusiastic rally, but once again late in the trading session the sellers appeared and pushed stocks back into negative territory. As we have pointed out, rallies seem to be continuously met by waves of...

Friends   The bulls were able to muster a little bit of a rally today with the beleaguered Nasdaq leading the way higher. Stocks had gotten very oversold on a technical basis, so a counter trend rally was due at any moment. This wasn’t one of those monster moves...

Friends   You know the markets are difficult when just ending the trading session off of the day’s lows is a relief. Indeed, off the lows is the new up when it comes to moves in the stock market these days. Yes, it was another difficult day for stocks as the...

Friends   This morning’s CPI data showed inflation year over year running at 8.3%. Ok, that’s better than last month’s 8.5% but not much. Stocks were looking to open higher before the open until this number hit. Throughout the trading session, as we have seen...

Friends   The bulls had turnaround Tuesday on their minds at the open today, but they really kind of got it wrong. Better would have been if stocks had fallen at the open only to be reversed later in the day and pushed higher at the close. Instead, stocks moved...

Friends   It was another case of basically sell everything today. Stocks were down, commodities were down (including oil and gold), crypto currencies were down. Only bonds rallied a little (yields down). Even this year’s winner the energy sector was down more...

Friends   It is somewhat breathtaking to watch the volatility in stocks right now. Yesterday’s collapse saw some follow through by the bears this morning as the Dow was down more than 400 points several times during the trading session. But, in the end stocks as...

Friends   Well, we thought it might be a good idea to curb our enthusiasm after the melt up rally we saw after yesterday’s Fed meeting. It appeared to be a situation where the bears were caught offsides in their positioning leading to a short covering rally, more...

Friends   It was an eventful “Fed” day for the markets. First, at the conclusion of the FOMC meeting the Fed announced that they would be raising interest rates by 50 basis points taking the Fed Funds rate to .75% -1.00%. Also announced was that the Fed would...

Friends The bulls continued to try to follow through on yesterday’s nice reversal during the trading session, but every advance was met with a wave of selling. In the end the bulls were able to grind out a win, but it took a lot of work. Whether we are trying to form...

Friends   It wasn’t much but the bulls finally had a little something to cheer about today. After a more than 500 point drop in the Dow, buyers showed up this afternoon (maybe covering shorts) to push stocks into positive territory near the close. After a...