Friends As the Libyan situation continues to be in the forefront of trader’s minds, every rumor sends the market careening in one direction or another. Yesterday we first heard that Gadhafi had chemical weapons ready to be used. Market goes down. Later in the day we...
Friends We will attempt to keep you up to date with the Libyan situation and its effect on the markets. Today was similar to yesterday with oil trading higher (at one point crossing $100 on the NYMEX) and stocks trading lower. At one point, the Dow Jones Industrial...
Friends The unrest in Libya finally broke the uptrend in stocks today. Stocks fell early in the morning and continued throughout the day with the Dow Jones Industrial Average ending down 178 points (-1.44%). As would be expected, oil and gold were both up big for the...
Friends Austerity doesn’t feel too good when it’s your privileges and money that someone wants you to do without. We are seeing in Wisconsin that the austerity movement has come to our shores, and sometimes it is not pretty. This is only the beginning of the...
Friends As we return this Monday, stocks seem to continue to want to move higher. At the close the S&P was slightly higher. Still, traders continue to be concerned with valuation and the fact that we have not had any sizable retracement in prices in quite a while. As...
Friends Welcome from the frozen tundra here in Texas. What the heck is going on around here. If this is what “climate change” is all about, you can count me out. Anyway, let’s get to the markets. As we reported earlier in the week, stocks got above the Dow 12,000...
Friends Stocks rallied to two and a half year highs as the Dow Jones Industrial Average ended the day up 148 points to close well above the 12,000 level. The S&P 500 closed at 1307 easily surpassing the psychological 1300 barrier. The news out of Egypt was mixed as...
Friends The GDP number was just released and the U.S. Economy grew at 3.2% for the 4th quarter 2010. The number is a little less than analysts were estimating (consensus was for 3.5%), but if we look back 6 to 12 months, we all would have been thrilled to see a number...
Friends Just an update on today’s market action in response to the events in Egypt. Stocks sold off today as images of unrest in Egypt dominated the news cycle. The Dow Jones Industrial Average ended down 166 points. As we discussed this morning, a pullback from the...
Friends As we find ourselves in the middle of earnings season, the sloppiness that we anticipated is indeed occurring. Stocks such as Apple, IBM and Google have had fantastic earnings reports. On the other hand, bank earnings have been a bit of a mess and the shares...
Friends Earnings season has begun, and stocks will take their cue each trading day from various company reports. Alcoa led us off with a nice earnings report early in the week, but as has been the case for the last several quarters, the stock sold off a bit on the...
Friends I hope everyone had a great New Year’s celebration. The stock market started the week with a bang, as we had a very nice move up on Monday, the first trading day of the year. The rest of the week has been somewhat muted as we waited for the unemployment number...
Friends Well, Santa delivered us quite a nice Holiday rally in December (unless we give it all back today) didn’t he? As of the opening this morning, the Dow Jones Industrial Average is up more than 5% for the month and the S&P 500 is up more than 6% for the month....
Friends The Santa Claus rally has been in full force thus far in December, but it looks like Santa may be running out of presents. In a word, the market looks a little tired. Overbought? Definitely. Extended? For sure. But stocks seem to be the recipient of money...
Friends Stocks continued their deliberate climb for the sixth day in a row today. The Dow Jones Industrial Average closed at 11,476 which is its highest level since September of 2008. The S&P 500 lost most of its gains by the close, but still managed to eke out a...
