Friends What a change a week makes. Stocks ended the 2nd quarter with a four-day flurry which saw the Dow rise over 152 points to close the quarter at 12,413. Whether it was end of quarter “window dressing” or simply investors deciding that the soft economy was only temporary,...
Friends, Stocks have had two very nice days back to back, albeit on very light volume, but we’ll take it. While we await tomorrow’s austerity vote in Greece, stocks are benefiting from money managers “fixing up” their portfolios before quarter end. We don’t want to make too much out...
Friends I felt like I was riding an elevator all day today. The market started today in a downward fashion as lingering disappointment in Fed Chairman Bernanke’s comments from yesterday seemed to weigh on the market. Then came word that the U.S. was going to release 30 million barrels...
Friends We got the Fed announcement today as well as the second Bernanke press conference, and the take away for us was that Dr. Bernanke has no intention of raising interest rates anytime soon, and should it become absolutely necessary, additional measures would be taken. The Fed’s dual mandate...
Friends, It seems like we have seen this movie before. The markets continue to focus on the problems in Greece, as the Eurozone folks try to come up with a way to continue to delay what seems like the inevitable. At some point, the world will have to actually...
Friends, As you know, we have been talking about the liquidity vs. reality story for two and a half years now. We have said repeatedly, don’t fight the Fed. As long as Dr. Bernanke and the Fed were going to provide endless amounts of liquidity, stocks and bonds were...
Friends The just reported jobs number was extremely disappointing, but not that surprising after we got a heads up on Wednesday from the ADP number that job creation has slowed. Along with that, the unemployment rate is ticking back up with the reported number today being 9.1%. Stocks and...
Friends May ended up being a very choppy month with a negative bias for the markets. We saw commodity prices fall drastically early in the month, but as the month came to a close, many commodity prices were climbing slowly higher. Stocks ended up down 1.4% for the S&P...
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