Friends   The trading session started bad and ended even worse. Stocks plummeted, bonds plummeted, gold plummeted, crypto currencies plummeted. It was not pretty. The crypto currency melt down happened mostly over the weekend and set a gloomy tone for other asset...

Friends Market participants decided to sell before tomorrow morning’s Consumer Price Index release. Since the rally 2 weeks ago, stocks have had trouble gaining any new traction and today looked like an acceptance that the late May rally in stocks was nothing more...

Friends The much-anticipated Consumer Price Index release this morning was like a nuclear bomb dropped on the market. Hope’s that inflation was beginning to moderate were quickly dispelled as the month to month and year over year numbers both came in hotter than...

Friends   Every time the bulls try to string some wins together or build on a recent success, they seem to run into those nasty head winds. Today, rising oil prices and bond market weakness provided the negative headwinds that kept stocks in the red for most of...

Friends   Stocks got off to a good start at the open this morning but had trouble holding onto those gains as the trading session wore on. Bond yields continued their push higher, with the 10-year Treasury Note yield moving back above 3%. We are in a period where...

Friends   The bulls just had too much lined up against them today- a hotter than expected employment report, Apple downgraded by an influential analyst, hawkish comments from Fed officials, squeamish comments from Elon Musk and rising oil prices. Stocks fell at...

Friends   The opening of today’s trading session was similar to the first two trading sessions of the week with stocks moving lower by several hundred Dow points early only to see buyers step in and move stocks higher as the day wore on. The difference today is...

Friends   If you want to find a positive from the last couple of trading sessions, it’s that early selloffs saw buyers appear and erase those early losses. But on the negative side of the ledger, sellers appeared in the final minutes of each trading day to send...

Friends   Just a few observations this morning from the road. First, the heartache that our nation feels this morning after the murders at the elementary school in Uvalde, Texas is immeasurable. We have almost become numb to it which might be the saddest thing of...

Friends   Somehow word got out that I was heading off on my first “vacation” in more than three years. Market participants began selling stocks at the open and things continued to deteriorate for the remainder of the trading session. Many of you know my record...

Friends   It was a good day for the bulls as rallies were able to hold up even into the dreaded last hour of trading. About a half a dozen Fed officials, including the Chair Powell were either speaking or interviewed today, and nothing really earth shattering was...

Friends   The bulls tried to add to Friday’s somewhat unenthusiastic rally, but once again late in the trading session the sellers appeared and pushed stocks back into negative territory. As we have pointed out, rallies seem to be continuously met by waves of...

Friends   The bulls were able to muster a little bit of a rally today with the beleaguered Nasdaq leading the way higher. Stocks had gotten very oversold on a technical basis, so a counter trend rally was due at any moment. This wasn’t one of those monster moves...

Friends   You know the markets are difficult when just ending the trading session off of the day’s lows is a relief. Indeed, off the lows is the new up when it comes to moves in the stock market these days. Yes, it was another difficult day for stocks as the...