Friends Despite a strong Chicago PMI number, an upwardly revised 4th quarter GDP number (though barely), and a decent weekly jobless claims number, the quick ramping up of prices over the past two trading session simply ran out of steam today. Traders seemed content to stand pat with the...
Friends Holy Cow! I guess if you had gotten all riled up and sold everything (like some TV pundits would have had you done) on Monday when the Italian circus was taking place, you’d be kicking yourself today. After Monday’s bloodbath, the markets had to take some time to...
Friends While the Italians continue to figure out who is going to run the country, traders seemed to turn their attention to Dr. Bernanke’s testimony before the Senate today. The Fed Chairman put at ease the worries that the punch bowl would be taken away any time soon. Market...
Friends At least the Italians are entertaining. You really can’t make this stuff up. The road to austerity in the southern European country was perhaps derailed today as a sexual predator and foul mouthed comedian look to upset the middle of the road candidate in the country’s election. The...
Friends What? We were just kidding-none of it matters today. We are beginning to get a somewhat schizophrenic market, aren’t we? Market gurus were crying “sell everything” yesterday, and lo and behold stocks rallied right back today to actually end mixed (Dow was up/S&P 500 was down) for the...
Friends Ok, now I guess it matters. For weeks, if not months bad news of all sorts simply didn’t seem to put a dent in the bullish charge we were seeing in the stock market. Now, all of a sudden, a weak guidance by a company, confusing Fed minutes,...
Friends The first part of the trading day was defined by the massive sell-off in commodities, as gold, oil, copper and most everything else seemed to be just being dumped regardless of price. For most of the morning, stocks seemed to be weathering the storm only showing modest losses...
Friends Stocks were just drifting along in slightly negative territory for most of the day today, before an internal memo out of Wal-Mart describing February sales as “a total disaster” sent the averages plunging in the early afternoon. But in the last hour stocks clawed their way back, and...
Friends After an early morning drop, triggered by weakness in Europe, stocks spent the rest of the day fighting to get back into positive territory. Various GDP reports from European countries including disasters from France and Italy, once again verify that the EU is still a drag on global...
Friends Well, the bears decided to fight back today, but didn’t really do that much damage. Before the opening bell the retail sales report was about as expected, nothing to write home about, but not terrible, but the bulls couldn’t drum up enough interest at the opening and by...
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