Friends Well the market certainly seems to approve of the message from the Fed yesterday. Stocks rallied from the opening bell and stayed strong throughout the day. Just as interesting, bonds sold off (rates moved higher). So after Monday’s selloff, the bulls...
Friends So, here is what we heard from the FOMC and Chair Powell this afternoon. It seems likely that the Fed will begin the tapering process (reducing asset purchases) in November or December of this year and that the process will take about 8 months which means it...
Friends For years now we have seen disruptive days like the one we saw for stocks yesterday followed by heightened volatility. Today was no different with stocks moving nicely higher at the open, only to run into selling that sent the market averages back down...
Friends Market pundits have been warning that we haven’t had a 5% pullback in the stock market for more than a year. Well, we have one now (well at least we had one midday before stocks recovered some towards the close). As we have seen for years, downturns in...
Friends Stocks finished the week on a sour note and continue to look a bit “heavy” at the moment. We’ve talked about seasonality and how September is sometimes a difficult month in general, but add in another weak options expiration Friday and the bulls just...
Friends After yesterday's rally the bulls were hoping for a follow through today. Unfortunately, stocks headed south early in the trading session and at one point had given back all of yesterday's gains. But, the bulls stepped back in and moved the market...
Friends The month of September continues to be a difficult one for stocks. Despite today’s slightly better than expected CPI number, the bulls couldn’t mount much of a rally and as has been the pattern lately, an early move up quickly turned into a pullback....
Friends All of us who are old enough, remember everything about 9/11/2001. It was a day that started like any other, but was soon to turn into a nightmare that played out for most of us right on television. For those in New York City and specifically those who...
Friends It really wasn’t a very good week for stocks. Now, that is somewhat understandable. First of all, seasonally this is often a difficult time for stocks, but add in stress about Covid-19 and the Delta variant, coming tax hikes, inflation, stretched...
Friends Stocks continue to slide gently lower, but there really hasn’t been that much damage done to the market averages just yet. Of course, as we continue to point out time and time again, many stocks have sizable pullbacks while others continue to churn...
Friends Stocks were a bit soft once again today as market participants seem concerned about the Delta Variant, Congress’ spending and taxing negotiations and seasonal weakness in general. It’s always interesting to see how yesterday’s winners are today’s...
Friends Stocks had a difficult start to the week except for some of the big name growth/tech companies. While Apple was making new highs and Google, Amazon and Facebook were also posting gains, industrials, materials and consumer staples all saw selling...
Friends Today’s jobs number came up just a little shy of expectations. Actually it came up about a half a million jobs shy of expectations. Analysts immediately blamed the Delta variant for the huge miss, and I’m sure that is a factor, but perhaps the great...
Friends It was another sloppy day of trading with very little direction, yet there are some sectors that are working well at the moment (big tech for instance) and there are some sectors not doing so well (see the cyclicals). As we have mentioned, we have seen...
Friends It was a quiet end to a pretty good month. Remember, August is often believed to be a difficult month for stocks, but as we have seen for most of the year, the bulls continue to hold the upper hand. We have a lot ahead of us in the coming months,...
