Friends Stocks had an upward bias today right from the start despite an awful consumer confidence number (is it any surprise that consumers would be cautious given the circus they have been exposed to over the past 30 days?). The Dow Jones Industrial Average was up...
Friends For the 4th day in a row, we had a move of over 400 Dow points. That is a record. This time we were back up with the Dow Jones Industrial Average closing up 423 points, after being up as much as 540 points, to finish the day at 11,143. The S&P 500 closed at...
Friends Well the best thing I can say about today’s market is that it was an orderly decline. Unfortunately we wiped away yesterday’s gains with the Dow Jones Industrial Average falling 20 points. We started the day falling more than 430 points, then recovered by...
Friends If you thought yesterday was one for the ages, today was even more amazing. Volatile is not a strong enough term for what happened today. We began the day with a not unexpected snap back rally of over 200 Dow points. As the day progressed, we waited for the...
Friends As I am sure you aware by now, Standard and Poors downgraded U.S. Government debt from AAA to AA+ on Friday evening. This was not unexpected, but the emotional effect will be manifested in stock prices this morning. In Europe, the ECB is buying Spanish and...
Friends Today was what fear and panic look like in the markets. It was very reminiscent of late 2008 and early 2009. The market opened down more than 250 Dow points and pretty much fell all day long. The downgrade of U. S. Debt was the headliner of course, but...
Friends For those who were not able to listen in on the call yesterday, let’s first go over what happened yesterday. Simply put, the already soft market was given an additional jolt from the confusion in Europe. The ECB seems not to have a handle on what to do with...
Friends After breaking through a major support level on the S&P 500 early this morning, stocks plummeted over 150 Dow points only to recover late in the day to end the day up 29 points. You need motion sickness pills to stomach the wild gyrations we are seeing these...
Friends As you have most likely heard, there has been a tentative agreement on the debt ceiling that should be voted on today. If passed (and it is not a done deal), one could at least say that it is a start. At least we have entered the discussion that deficit...
Friends Quite a roller coaster ride for stocks today. After the Dow opened more than 150 points to the upside, stocks quickly plummeted more than 300 points leaving the average down more than 150 points. As the trading day came to a close, it looks more likely that...
Friends The GDP number was just released this morning and the number came in at 1.3% growth for the 2nd quarter. That is pretty anemic growth and the S&P futures sank even lower after the release. Of course, the GDP news pales in comparison to the debt ceiling debate...
Friends Let’s talk about the economy for a moment before we touch on politics. As we discussed earlier, the GDP number for the 2nd quarter was very anemic. What was even worse was the revision downward of the 1st quarter GDP number. I know it is backward looking, but...
Friends As the politicians continue to make a mess out of the debt ceiling situation, the market has decided to weigh in and make its view perfectly clear. For the third day this week stocks fell, with the Dow Jones Industrial Average falling more than 198 points,...
Friends As the political sniping and fear mongering continues in Washington, stocks have seen two very quiet down days. As a matter of fact, the market looked like it might want to end in positive territory before news from the White House, that the President would...
Friends Just a thought as we begin trading this week. It seems the press is convinced that the markets are going to force Congress into action by collapsing. Perhaps, but it seems that both the stock market and the bond market don’t want to cooperate. Bond yields...
