Socks Rally On President’s Diagnosis

Socks Rally On President’s Diagnosis

Friends Where do I start? News of the President doing well with his Covid-19 treatments helped fuel an early rally in stocks. Then after things had settled in for the day, news that the President was going to be heading back to the White House late this afternoon,...

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Socks Rally On President’s Diagnosis

Covid-19, Jobs, Stimulus

Friends Oh my, it was quite a day of news. First we discovered overnight that President Trump and the First Lady both tested positive for Covid-19. They both appear to have mild symptoms, but of course this story will develop over time. Before the opening bell we got...

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Socks Rally On President’s Diagnosis

Choppy, Rumor Filled Day

Friends The markets continue to be focused on the negotiations going on between the White House and Speaker Pelosi on a new stimulus bill. Every sign of hope sends stocks up and then every dose of reality sends stocks back down. Maybe they will be able to strike a...

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Socks Rally On President’s Diagnosis

The Aftermath

Friends As I expected, a robust, issue driven, civil debate would lead to a nice rally at open this morning. I'll just pause there for a moment. Anyway, stocks rallied on hopes that Steve Mnuchin and Nancy Pelosi would get along better than the candidates in last...

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Socks Rally On President’s Diagnosis

Stocks Soft Before Debate

Friends Stocks struggled today although the market averages rebounded somewhat from their lows of the day. It appears that market participants, despite strong consumer confidence numbers might have been a bit concerned about the Presidential debate tonight and how the...

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Socks Rally On President’s Diagnosis

Good Start To The Week

Friends It was a good start to the week for stocks. The market averages opened higher and for the most part held on to their gains throughout the entire trading session. Once again, there seems to be some hope that a stimulus deal could come out of Congress before the...

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Socks Rally On President’s Diagnosis

Stocks Finish The Week On A High Note

Friends It's been a difficult month for stocks, but the bulls did show up this afternoon with their shopping list. There is some hope that a stimulus bill could be crafted and passed but that seems pretty unlikely before the election, but who knows? We saw the reopen...

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Socks Rally On President’s Diagnosis

Dip Buyers Appear

Friends After a somewhat weak opening, some "bargain" hunters showed up to push the market averages higher in afternoon trading. The big growth names were the winners today, with the Nasdaq leading the other market averages higher. Nothing much changed on the economic...

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Socks Rally On President’s Diagnosis

Stimulus Unlikely, Stocks Down

Friends September is living up to its reputation. At the lows today, the S&P 500 was down almost exactly 10% off the highs set a few weeks ago. We did bounce off that level, but it was a difficult day for most stocks. After word of Justice Ginsburg's death and the...

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Socks Rally On President’s Diagnosis

Choppy End To A Choppy Week

Friends   It was another back and forth trading session today as traders seemed uncertain exactly what stance they wanted to take as the week came to a close. We’ve noted that this is typically a difficult time of year for stocks, and you add in the economic...

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Socks Rally On President’s Diagnosis

Stocks Slump In Volatile Session

Friends We saw a pretty volatile day of trading today, but it all seemed rather contained. Stocks fell hundreds of Dow points early, regained all of those losses, fell again, recovered again, but in the end drifted back down decisively into negative territory. The...

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Socks Rally On President’s Diagnosis

Stocks Give Up Early Gains

Friends The bulls had something cooking for most of the trading session, but as is often the case, the markets changed direction after the Fed Chairman held his press conference. For those who trade markets on a minute by minute basis, each Fed statement or Chair...

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Socks Rally On President’s Diagnosis

Slight Advance

Friends Stocks were able to post gains today, but the market averages traded well off their highs for the day by the close. Today’s news cycle included a new product presentation from Apple (mainly on watches and iPads as the new phone announcements have been delayed...

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Socks Rally On President’s Diagnosis

Nice Start To The Week

Friends   The bulls stepped up today in an attempt to take the reins back from the bears after the sloppiness of the last couple of weeks. Stocks opened higher and were able to hold onto the gains for the entire trading session. Actually, after the initial surge...

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