Archive for category: Market Commentary

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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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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