Archive for category: Market Commentary

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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Decent Reversal Day

Decent Reversal Day

Friends Stocks enjoyed a decent reversal today, though it did fizzle a little at the end of trading. After getting off to a lousy start fueled by Italian rates getting back above 7%, stocks fought back all afternoon. After a 75 point fall in the Dow Jones Industrial Average...

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Slow

Slow

Friends The volume was so light today, it was like watching paint dry. The difference between now and 25 years ago? Watching paint dry now involves 100 point moves in the Dow Jones Industrial Average. After all was said and done, the Dow was down74 points to finish the...

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Another Wild Week!

Another Wild Week!

Friends First, a heartfelt thanks to our nations veterans, as well as the men and women currently in uniform. This nation is forever grateful. With the bond market being closed for Veteran’s Day, stocks were the only game in town, and quite a nice game it was. With things...

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A Little Better!

A Little Better!

Friends Stocks got off to a good start this morning getting back about 150 early Dow Points from yesterday’s shellacking, fueled by a “successful” auction of 12 month Italian notes and an unemployment claims number of 390,000 which was under the 400,000 number once again this week. The 10...

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Italy’s Revenge

Italy’s Revenge

Friends, We wondered why stocks were up yesterday given the turmoil in Italy, but were glad to accept the gains. We paid the price today, as the reality of the situation manifested itself in continuously higher interest rates on Italian debt. This of course, leads to the fear that...

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Berlusconi Out

Berlusconi Out

Friends, Italian Prime Minister Silvio Berlusconi must not have gotten enough “likes” on his Facebook post yesterday when he indicated he was not stepping down. A day later, and indeed, he is stepping down. Stocks rallied on the news (I am not sure why) as the Dow Jones Industrial...

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Facebook Rally?

Facebook Rally?

Friends, Stocks finished an up and down day to the upside with the Dow Jones Industrial Average up 85 points for the day to comfortably close back above the 12,000 mark at 12,068. The S&P 500 was up 7.89 points to finish at the 1,261 level. Gold was up...

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Difficult Week

Difficult Week

Friends, The U. S. economy produced 80,000 new jobs in October, but Mr. Market did not seem too impressed. The actual unemployment rate edged down to 9% from the previous 9.1% but the fact remains, unemployment is a huge problem and job creation has been anemic at best. Stocks...

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Two Down/Two Up

Two Down/Two Up

Friends, The first two days of the week, Mr. Market tried to take our October gains away from us. The last two days, he’s decided to give us back a little of that upward momentum. Today’s gains were fueled once again from European news, and specifically news out of...

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