Archive for category: Market Commentary

Santa is Loading His Sleigh

Santa is Loading His Sleigh

Friends, Take a Chinese cut in reserve ratio for banks, globally coordinated Central Bank intervention, a nice ADP employment number (206,000 jobs), a better than expected Chicago PMI number (62.6 vs. an expected 58.5), and a Fed Beige Book release indicating positive economic activity and you have the recipe...

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Good Start to the Week

Good Start to the Week

Friends As we began trading today, the news was definitely on the positive side, as on the domestic front, retailers reported a very strong “Black Friday”. Even more importantly we had rumors/news out of Europe that the IMF might just have the bazooka needed to buy troubled debt. Even...

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Quiet Black Friday

Quiet Black Friday

Europe continues to dominate the news cycle in terms of markets, as rising Italian rates along with a yield curve inversion continued to weigh on the minds of the few traders participating in this half day of trading. Volume was of course very light and it’s the type of...

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Rampant Pessimism

Rampant Pessimism

Friends, It was another slow but difficult day for stocks, as traders just didn’t want to do any buying before the Thanksgiving holiday. The morning began with news that a German bund auction did not go well overnight and we were down right from the start. It’s one thing...

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Slowdown Begins

Slowdown Begins

Friends, Traders seem to be slowing things down as we get close to the Thanksgiving holiday. This morning we had the first revised look at 3rd quarter GDP and it was, indeed, reduced downward form the original 2.5% to 2%. That set the tone for a lower market in...

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Super-Committee Letdown

Super-Committee Letdown

Friends, It’s hard to believe that anyone would be surprised that the “super-committee” was going to let us down this week, but traders decided to show their disapproval by selling stocks on Monday. Of course, Europe continues to wear down the psyche of the bulls with interest rates continuously...

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Quiet But Painful Week

Quiet But Painful Week

Friends, As stocks meandered all day long and into the close, let’s just take a moment to review the current situation. Today’s Leading Economic Indicator (LEI) number was better than expected. Add that to recent numbers including better than expected October retail sales, ok Philly Fed number, improving initial...

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The Dreaded Triangle

The Dreaded Triangle

Friends Stocks had another very difficult day, as a quiet morning once again turned into an ugly afternoon. After a decent initial unemployment claims number this morning followed by slightly better housing starts and building permits, not to mention an ok Philly Fed number, one might have expected that...

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Who Pulled the Plug?

Who Pulled the Plug?

Friends Well, we were having a nice boring day when at about 2:00 pm the rating agency, Fitch, reported that U. S. banks could be downgraded if the European situation is not soon resolved favorably. Stocks which after an early decline had rallied to positive territory then fell immediately...

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