Friends An asteroid is passing the earth today and it’s “name” is 1998 QE2. Yes, that’s right; its “last name” is QE2. You really can’t make this up. Hopefully, there is not a financial asteroid heading our way named QE2 or QE3 or QE-infinity. Anyway, I digress. Stocks got...
Friends Punch bowl addicted traders were encouraged this morning as the GDP revision and the weekly unemployment claims number both were less than stellar, allowing the reality that bad news is good news once again for buyers of stocks. The “taper” talk, or when will the Fed begin to...
Friends Volatility has surely picked up, hasn’t it? Today, stocks fueled by more early disruption in bond prices, opened lower and continued lower most of the morning. By late morning the Dow was down 181 points led by a sizable drop in consumer staples, telecom, drugs, utilities and other...
Friends The bulls came back from the three day weekend raring to go as stocks rose over 200 Dow points in early morning trading. Encouraged by good news on housing (prices nationwide are up 10.9% over the past 12 months), and a surprisingly good consumer confidence number (the best...
Friends It’s been a little different type of week than we have seen for a while. For one thing stocks were actually down for the week. Haven’t seen that for a while. Ironically, the economic news was rather positive for the week. The unemployment claims number was pretty good,...
Friends Wow, risk happens fast. After rocking and rolling for months now, stocks in Japan dropped more than 7% in trading overnight, setting up for a very jittery market open here in the U. S. Remember, yesterday was that scary looking reversal day that brought the bears out of...
Friends With the disaster that we watched our neighbors to the north endure yesterday, it is very difficult to focus on anything else, but I’ll do my best to catch you up with the market’s action today. It’s Tuesday, so of course stocks were up. Yes, that is 19...
Friends You, of course, have heard the term “melt-down” used when referring to the prices of shares of stock falling precipitously. We seem to be experiencing somewhat of a “melt-up” at the moment, as the stock market appears to have caught an enormous number of bears and the underinvested...
Friends Bullish traders finally succumbed to negative economic news and simple overbought conditions in today’s trading as the averages ended the day in negative territory. To be fair, stocks basically treaded water for most of the day, just heading downward in the last hour. Unfortunately, other than low inflation,...
Friends We had somewhat of a roller coaster ride today in the stock market. Originally, it looked like we might have a little weakness today as stocks opened to the downside. But as often has been the case lately, the buyers appeared and pushed the averages higher by midday....
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