Friends It was a difficult day for stocks and it wasn’t even the bond market’s fault. There seemed to be some concern among market participants that perhaps the coming economic boom is already priced in (as we have been somewhat concerned about for a while now). Even...

Friends   The yield on the long bond backed off a bit today which greased the skids for a move up in the Nasdaq. You know the drill by now, rates down/tech stocks up and vice versa. Even the Dow was able to post a modest gain as all in all it was a good day for...

Friends   It was another mixed day for stocks with the Nasdaq being today’s winner while the Dow, weighed down by a drop in financials, was on the short end of the stick. The yield on the 10 year Treasury Note was stable, which helped the beleaguered tech names,...

Friends   Interest rates applied the pressure and stocks faltered as the trading session wore on. Again, with the early morning spike in longer term interest rates the big growth names all tumbled at the open. But, as the day wore on, even though bond yields...

Friends   Market participants were waiting with bated breath for the Fed release and the Chairman’s press conference and were not disappointed. The Fed Chair again made it clear that despite inflation worries and an economy that is sure to heat up in the second...

Friends It was a good day for the older established growth companies as well as the very defensive area of the market. The economically sensitive sectors saw some selling today with energy, industrials and financials all feeling the pressure. There has been a...

Friends   It was a somewhat quiet day of trading until the bulls got involved in the final hour of the session. The long bond was also rather quiet which allowed the beleaguered Nasdaq to regroup and show some life.   For the day, the Dow Jones Industrial...

Friends The interest rate on the 10 year Treasury note moved up over 1.62% this morning which sent the Nasdaq tumbling once again. The value heavy Dow Jones Industrial Average was the winner today, and we have seen this pattern for a couple of weeks now. Interest...

Friends It was another good day for the bulls, as all of the major indexes participated in the rally. For the second day in a row the tech heavy Nasdaq was the big winner. We noted that the growth darlings were getting way oversold in a relatively short period of...

Friends   Today’s CPI number came in as expected and this afternoon’s 10 year treasury auction went off without a hitch, both leading to a calming of the bond market (rates stopped going up). With the fixed income markets neutralized for the moment, stocks...

It was another odd day of trading with the Dow sporting a nice gain, the S&P 500 lower, and the beleaguered Nasdaq once again left holding the short straw. The culprit again was the bump up in the longer term yields which puts pressure on growth stocks, but seems...

Friends Wow, what a wild day of trading. Things began with a stronger than expected jobs report which sent long term interest rates higher. The paradigm has been rates higher, stocks (at least tech stocks) lower. But, market participants seemed a bit confused today....

Friends   Market participants threw a little tantrum today when Fed Chair Powell indicated that, though the Fed was indeed concerned about the back up in longer term interest rates, they weren’t ready to do anything about it. In other words they are not ready to...

Friends   It was another ugly day for the Nasdaq, as the high flyers of the pandemic era continue to see the air let out of the bubble. Bubble, you ask? Well, yes. When stocks begin to trade at ridiculous multiples not only to earnings but just to sales, then...

Friends   Stocks gave back some of yesterday’s gains as the bulls seemed to back away from the table just a bit. Again, the tech heavy Nasdaq fared the worst as many of the big name darlings saw selling pressure. But it wasn’t a day of rotation as recent winners,...