Friends Stocks were battered today following comments from a conference in Las Vegas last night by hedge fund manager David Tepper. Tepper in a Q &A session let the audience know that it might be a good idea not to be fully invested in stocks right now. This is a...
Friends Stocks fell early and often today after the government PPI report indicated that inflation is hotter than possibly the Fed expected. But the most fascinating part of the story is not that stocks fell, but that bond yields also fell (bond prices rising)....
Friends The bulls were able to penetrate the 1900 level on the S&P for a brief moment today, but very little enthusiasm followed and shares quickly fell back toward yesterday’s closing levels. Before the opening, the Retail Sales number for April was soft and...
Friends Stocks got off to a good start for the week, as the lack of any cataclysmic news out of Ukraine (Putin was too busy racking up six goals in a “hockey game”) allowed traders to shop in peace today. Many of the recently beaten down high flying momentum stocks...
Friends It was another listless day of trading (despite market averages dancing near all-time highs), as traders seemed mostly uninterested in participating on either side of the ledger. There was a little bit of volatility, but as we pointed out yesterday, there is...
Friends The stock market these days is like a movie that has a lot of action, but no plot. Once again today we were entertained by wild gyrations, as the Dow reversed an up over 100 point day and plunged into negative territory – only to recover in late trading to eke...
Friends There were a lot of crosscurrents in the markets today. Quality “blue chip” type stocks were being snapped up by traders while at the same time momentum driven “previously high flying” growth stocks were being sold hand over fist. The divergence showed up in...
Friends Sparked by more Russia/Ukraine unrest, and reports that 1st quarter GDP may actually be adjusted negatively (making it a minus number), stocks spent the day in negative territory. Despite Tuesdays being positive most of the time this year, the bears were able...
Friends After a quick sell-off early this morning which saw the Dow down nearly 150 points, stocks (fueled by a better than expected ISM Non-Manufacturing number) rallied to finish the day slightly in positive territory. After the bulls were able to force the averages...
Friends Traders had a lot to deal with today. First of all, we got the non-farm payroll number this morning which was better than expected as 288,000 new jobs were created in April. Now, the question is-is this just a rebound from the bad weather related numbers of...
Friends Stocks drifted aimlessly today despite stronger than expected economic data including a surprising personal income and spending number. It seems traders were content to sit on their hands before tomorrow morning’s jobs report. Earnings reports and future...
Friends The Fed did as expected and kept interest rates at virtual zero, and they indicated that they would continue the taper by reducing another $10 billion from the monthly bond buying program. On the economic data front, the GDP number for the first quarter was...
Friends Stocks enjoyed another roller coaster ride today as an early rally fueled by potential corporate mergers, was undermined by a breakdown in the NASDAQ (fueled by another difficult day for the high flying momentum stocks) which took stocks well into negative...
Friends Tensions between Russia and Ukraine seemed to take a toll on the markets today, as traders did not feel comfortable buying into a weekend that could see some political uneasiness. On the economic front, the consumer confidence number was stronger than...
Friends We got earnings after the close yesterday from two tech giants (Apple and Facebook) and we’ll get two more today at the close (Microsoft and Amazon), but despite the good reports from yesterday’s players, stocks drifted aimlessly today (perhaps stymied by the...
