Friends April didn’t exactly end well, but May got off to a pretty good start today. After a quiet start, stocks climbed into positive territory and by the close the Dow had tacked on a triple digit gain. It’s another busy week on the earnings front and being the...
Friends Up until this week, the bulls had a nice April going as the rally from late February into March had extended into the new quarter, but seemed to run out of gas as poor corporate earnings and weak economic data appeared to finally break their spirit. Of course,...
Friends Bank of Japan doesn’t deliver! Earnings season continues to underwhelm! First quarter GDP shows little growth! Carl Icahn sells his Apple shares and warns markets could fall! Any or all of these could be today’s headlines, and any or all of them caused stocks...
Friends I’m back, so let’s dig right in. Today was Fed Statement day after yesterday and today’s 2-day meeting, and as expected there was no raising of interest rates and the statement in whole was very much like the March statement- mainly dovish in tone. Could there...
Friends Stocks took a breather today after several days of gains, and it would seem to be an appropriate time and place for a pause. Stocks were back to looking a bit stretched, given the somewhat bleak level of earnings that corporate America has been delivering....
Friends After a quiet opening for stocks, a spike in oil prices and bond yields seemed to encourage the bulls to get back in the buying mood which led to a triple digit gain in the Dow early in the last hour of trading. But in the last half hour of trading, the bulls...
Friends Stocks rallied at the open despite dismal earnings reports from the likes of IBM, Goldman Sachs and Netflix, but the bulls seemed a bit weary as the trading session moved into midday. But in the afternoon, the bulls got a second wind and stock prices moved...
Friends The much ballyhooed meeting of oil producing nations in Doha, Qatar ended just as we suspected- with no agreement. Oil prices fell overnight, but recovered a good portion of those losses during today’s trading session. Likewise, stocks sold off at the opening...
Friends Stocks seemed to take the lead from oil this afternoon as both lost some ground as the trading session wore on, but the losses were modest. The meeting of oil producers this weekend in Doha, Qatar had oil traders in a frenzy and many decided that taking a few...
Friends With a lack of any real market catalyst, traders seemed content to sit on the gains that they were able to accrue over the past couple of days as stocks drifted aimlessly for most of today’s trading session. The weekly jobless claims number was strong, and/but...
Friends For the second day in a row stocks got off to a good start and were able to hold onto the gains throughout the trading session. The spark appeared to be the earnings report from JP Morgan Chase which propelled shares of financial institutions (you know, the...
Friends We finally held on to one today. After days of failed rallies it appeared that a pattern was beginning to develop-up in the morning only to sell off in the afternoon. As you may know, that is a pattern we do not want to see become the norm. Failed rallies are...
Friends The last couple of trading sessions, stocks are finding it difficult to hold on to early gains. After a nice triple digit Dow advance in early morning trading, stocks drifted into negative territory by the last half hour of trading. Earnings season officially...
Friends It is amazing how quickly sentiment can turn. Today’s trading action is the kind that wakes up the bears. Oil prices falling, interest rates continuing to decline (bond prices rise), central banks around the globe in full accommodative/panic mode, fuel a...
Friends The FOMC minutes were released this afternoon from last month’s meeting, and despite the urging of a few of the hawks on the committee to raise rates now, and actually a couple of the voting members, it was apparent that the doves (the majority) were having...
