Friends As I mentioned yesterday, today illustrates why we stay out of the prediction game. After yesterday’s gains in stocks, today was a total mess. Despite a mundane overnight futures market, stocks took a dive right from the start of trading and kept falling...
Friends Once again, just when it looks like the bears might have something cooking, stocks turn right around and head higher. Today, buoyed by a much better than expected New Home Sales number (some claim distorted), stocks rallied in early trading, and added to gains...
Friends Another difficult day for stocks, as buyers seem to be on strike after news of bombing overnight in Syria and, of course, last week’s drama with the Fed. There was smattering of green today on my screen, but for the most part the bears had control of the...
Friends Stocks took a bit of a beating today, as buyers just seemed to be absent after all the hoopla over last week’s Fed meeting and the Alibaba IPO. Another disappointing housing report (Existing Home Sales) didn’t help matters any, and gave the bears something to...
Friends While market participants waited for Alibaba to begin trading today, early action in the trading session was positive due to the “NO” outcome in Scotland as the move for independence failed for the moment. Finally, in late morning trading, Alibaba (the largest...
Friends As market participants wait for the results of the vote in Scotland, stocks enjoyed a hearty rally, as the bulls built on the aftermath of the Fed statement yesterday and the better than expected weekly jobless claims number this morning. Tomorrow will bring...
Friends Well, the language from the Fed statement released this afternoon really didn’t change anything. The verbiage of keeping rates low for a “considerable time” did not change, so the report out of The Wall Street Journal yesterday was basically correct. Now, the...
Friends Word from the Wall Street Journal’s chief Fed watcher this morning, that perhaps the result of the FOMC meeting will be no or little change in the wording for how long the Fed intends to keep interest rates at zero, put the bulls in a good mood and stocks...
Friends Stocks were mixed today as the NASDAQ, laden with some high flying growth stocks took a hit, while the Dow traded in positive territory. It is believed that growth fund managers are making room for the Alibaba (the large Chinese internet-based e-commerce...
Friends Stocks sold off early today and spent the afternoon trying to recover with little success. The culprit seems to be the quick move up in the yield of the ten year Treasury Note from about 2.30% to above 2.60% in the past week and a half. At some point in our...
Friends After a quick morning sell-off (perhaps market participants were unimpressed with the Presidents “plan” last night), stocks recovered some in afternoon trading. Nevertheless, the week has been marked by directionless trading and a lack of commitment from both...
Friends The bulls got back involved today, as stocks rallied for the first time this week. Once again, other than iPhones, Apple Watches and Apple payments, there hasn’t been much to get the juices flowing this week for traders. Somewhat directionless trading seems to...
Friends While Apple was grabbing all the attention by rolling out new iPhones and watches today, stocks were busy selling off across the board. The mood has been sour so far this week as the bulls seem to have run out of reasons to buy. For the day, the Dow Jones...
Friends, Stocks meandered in negative territory for most of Monday’s trading session, with no real catalyst for traders to act on. After all of last week’s economic data, this week will be much less interesting with Thursday’s weekly jobless claims and Friday’s retail...
Friends Ok, so today’s jobs number was a bit of a disappointment. The “experts” were expecting a gain of about 230,000 new jobs for August, but unfortunately only 142,000 new jobs were created. Now, it’s not the end of the world, and the “silver lining” crowd can...
