Friends Today the bears finally inflicted some damage. After a couple of soft weeks of trading, the bears had really not made much headway in terms of a market correction, but despite the “budget deal” out of Congress, stocks showed quite a bit of weakness today. Both...
Friends Six out of the last seven trading days have seen stocks looking somewhat weary. If not for last Friday’s rally, we would be talking about a measurable (but not significant, yet) pullback. Sure, market averages are still hanging around all-time highs, but the...
Friends The bulls were not really able to extend Friday’s rally (the rally that erased the losses that had mounted during the week), as trading was extremely quiet and volatility pretty much non-existent. Stocks did end on the positive side of the ledger, but the...
Friends Well, the bears were caught with their hand in the cookie jar as the jobs report threaded the needle. Goldilocks like, the 203,000 new jobs created in November was not too hot for the “afraid the Fed will taper” crowd, and good enough for the “the economy is...
Friends Stocks fell for the fifth straight session, and the fourth in a row to begin the month of December. Domestic economic data got the ball rolling this morning with a better than expected 3rd quarter GDP revision. The number came in at 3.6% annualized compared to...
Friends Though stocks rallied from a triple digit Dow loss earlier in the session, stocks still finished in negative territory for the 4th day in a row. On the economic front, the ADP private payroll growth of 215,000 new jobs was better than expected, and although...
Friends Counting Friday’s half day of trading, we now have a three day downward move in stocks for the first time in a while. Buyers seemed uninterested once again today, as stocks opened down and stayed in the red for the entire session. I would not read too much...
Friends Well, yes Virginia, stocks can actually go down. After what seemingly has been an uninterrupted advance, stocks suffered losses today, on this first day of December trading, despite (or because of) good economic data. The ISM Manufacturing Index was quite a...
Friends As expected, trading was painfully light today, and the markets had very little movement during the session. Stocks did end on a positive note, but there was not much to get excited about. Perhaps caused by the government shutdown, the Durable Goods Orders...
Friends On the economic front we received some positive housing data as the Case-Shiller HPI showed accelerating home prices and the housing starts data was better than expected also. The negative data point today was the Consumer Confidence Number which was a lower...
Friends Well, if today is any indication, we are in for a very quiet holiday week. Stocks drifted within a very narrow trading range for the entire session as traders seem uninterested in taking any big positions or making any major changes at the beginning of the...
Friends As the weather turns a bit nippy, stocks continued their year-end charge, as after drifting for most of the day, the major averages climbed to year highs by the close of the trading session. The bears continue to run for the hills despite the feelings...
Friends As we suspected, the foolish hand wringing over stale Fed minutes did not last very long. The bulls captured the high ground once again today sending shares higher from the opening bell. On the economic front the weekly jobless claims number was slightly...
Friends Despite all the economic data released this morning, including a benign CPI number, a better than expected retail sales number and an as expected existing home sales number, stocks drifted aimlessly until the release of the Fed minutes at 1:00 PM our time....
Friends It was a very quiet day of trading, as market participants appear to be trying to decide whether stocks are going to rally into year end, or is the end of the “bubble” that many experts are calling it, upon us. No doubt it has been quite a year for the bulls,...
