Friends Well, where did this come from? The bulls crossed the 3rd quarter finish line with their tails between their legs, sentiment was atrocious and support levels had been violated. But a little bad news is good news type of action, and we see two of the best...
Friends The 3rd quarter ended in such an awful fashion, it was refreshing to see stocks go up on this first day of the 4th quarter, even if it’s only for a day. Traders may be thinking that financial disruptions around the globe might begin to get central banks to...
Friends We mentioned that a counter trend rally might be in store for stocks and the Bank of England of all people/things, helped spark today’s much needed relief. That’s right the Bank of England said it would buy bonds to stabilize its financial markets....
Friends It was another disappointing day for the bulls as an early morning rally fizzled and stocks drifted in negative territory throughout the afternoon. The way trading days end are so indicative of the type of market that you are in. Up openings that lead to...
Friends It was more of the same today. Stocks tried to rally a couple of times and failed while a Fed official reiterated that the Fed is totally committed to squashing inflation. In every TV appearance or interview Fed officials continue to play the tough talk...
Friends For many investors this is their first bear market experience. It is very painful and stressful. As I mentioned a few months ago this is my 9th bear market, at least by the definition of the S&P 500 going down 20% or more. When you’re in the middle of a...
Friends Stocks meandered between positive and negative territory throughout the trading session after yesterday’s late afternoon downdraft. In late trading the Dow was able to work itself into positive territory, but that didn’t last and the other market...
Friends The Federal Reserve did indeed raise the Fed Funds rate 75 basis points today and made it clear that they see another 100-125 basis points of hiking before year end. This hawkish version of the Fed is remaining even more hawkish than many market pundits...
Friends It was a pretty ugly day for stocks as market participants brace themselves for the Fed release tomorrow afternoon. Stocks did finish off the lows of the day, but there wasn’t enough energy to make any real push higher. Of course, we are all waiting for the...
Friends Stocks were just drifting along, minding their own business, when late in the trading day sellers appeared and pushed the market averages lower. We are kind of in limbo at the moment as traders wait for next week’s FOMC meeting. Surely the Fed will raise the...
Friends We mentioned yesterday that despite the downturn in energy prices and other commodities recently, it was very possible that much of that was not going to show up in the CPI data for August. We also mentioned that other data points carry more weight such...
Friends The best news for the bulls today was that we didn’t give back yesterday’s rally. Stocks moved lower initially but moved into positive territory late in the morning and the market averages were able to hold onto decent gains into the close. The Fed...
Friends You might want to sit down for this. Stocks went up today. No really, I’m not kidding. Stocks moved lower in early morning trading, but perhaps buoyed by falling energy prices, the market averages all started moving higher and stayed strong into the close....
Friends Well, another day and another failed rally. Stocks moved slightly higher at the open this morning, but almost immediately reversed course and fell into negative territory before the first half hour of trading was finished. There were a couple of feeble...
Friends That was an ugly reversal. After a goldilocks type jobs report stocks opened nicely higher and were sporting nice gains (300 plus Dow points) by late morning. But with the 3-day weekend looming, traders decided that they did not want to hold onto stocks...
