Friends We all know the first half of 2022 is one we would sure like to forget about with regards to the markets (well, with regards to a lot of things but I’ll stay focused). We haven’t seen both bonds and stocks fall like this since 1970 (that’s a long time...
Friends It’s like no one wants to take a stand before the end of the quarter and what might be a dicey earnings season coming up in July. We haven’t seen much interest on the buy side, but we also haven’t seen much conviction on the sell side of the ledger...
Friends It looked like the bulls were prepared to hit the gas pedal on the quarter end rally this morning as the Dow moved nearly 500 points higher at the open. But things went downhill from there, sparked by more lousy consumer confidence data, and the Dow...
Friends Though there were a few missteps along the way, stocks had a pretty good day. Chair Powell was on Capitol Hill once again today, this time wrestling with the House Finance Committee members, which is exhausting to watch. I can’t imagine the patience the...
Friends After an early morning downdraft of more than 300 Dow points, stocks found some footing and the bulls were able to push the market averages into positive territory for most of the afternoon, only to fall back into negative territory by the close. Fed...
Friends Before my annoying caveats that it’s just a bear market rally/dead cat bounce, it was nice to see stocks move decisively higher today on this first trading day of the week. After the last two weeks which saw stocks fall about 11% it was nice to remember...
Friends The bulls fought hard to put up a gain, however modest it might be, but it wasn’t easy with a looming 3-day weekend. The S&P is now down 10 out of the last 11 weeks. That has only happened one other time ever, in 1970. I hope you were able to join...
Friends Stocks continue to move lower as markets try to price in yesterday’s Fed action and the possibility of recession (we’ll talk about that tomorrow in our zoom call, make sure to join us). As we worried yesterday, the day following Fed rate hikes has not...
Friends The Fed raised the Fed Funds rate .75% (75 basis points) this afternoon. The leak to the Wall Street Journal turned out to be accurate as the Fed, somewhat shocked by last week's CPI number, abandoned their plan to raise by 50 basis points. We haven’t...
Friends It was another sloppy day for stocks after the bulls tried to rally the troops early in the trading session. Given that everyone is waiting on the Fed’s decision on interest rates tomorrow (and perhaps the speed and intensity of QT), it’s not surprising...
Friends The trading session started bad and ended even worse. Stocks plummeted, bonds plummeted, gold plummeted, crypto currencies plummeted. It was not pretty. The crypto currency melt down happened mostly over the weekend and set a gloomy tone for other asset...
Friends Market participants decided to sell before tomorrow morning’s Consumer Price Index release. Since the rally 2 weeks ago, stocks have had trouble gaining any new traction and today looked like an acceptance that the late May rally in stocks was nothing more...
Friends The much-anticipated Consumer Price Index release this morning was like a nuclear bomb dropped on the market. Hope’s that inflation was beginning to moderate were quickly dispelled as the month to month and year over year numbers both came in hotter than...
Friends Every time the bulls try to string some wins together or build on a recent success, they seem to run into those nasty head winds. Today, rising oil prices and bond market weakness provided the negative headwinds that kept stocks in the red for most of...
Friends Stocks got off to a good start at the open this morning but had trouble holding onto those gains as the trading session wore on. Bond yields continued their push higher, with the 10-year Treasury Note yield moving back above 3%. We are in a period where...
