Friends Stocks got off to a rocky start this morning as a disappointing retail sales number(perhaps because of dreadful weather throughout the country) combined with a lethargic weekly jobless claims number gave the bears something to chew on as trading began. But later in the morning buyers appeared and...
Friends If you are a bull, you see a day like today and figure that stocks have rallied hard over the past four days, and a little pause in the action, is probably a good thing. If you are a bear you see this short “dead cat bounce” over...
Friends I think Janet Yellen is still talking. As far as I’m concerned she can keep talking all week. Stocks seem to like what she was selling. Now, what was she selling? Nothing new. The Fed will remain accommodative as long as necessary. The taper will continue unless the...
Friends Traders are focused on Fed Chair Janet Yellen’s first Congressional testimony which will be coming up tomorrow and then again on Thursday. In the meantime it was a very quiet day of trading. We did not see any of the volatility that marked last week’s trading as stocks...
Friends At first glance, the jobs report was somewhat dismal, but as the onion was peeled back it looked a little better. The non-farm payroll number was an increase of 113,000 new jobs in January which was much lower than the consensus estimate of 181,000 new jobs. But the...
Friends Stocks enjoyed their best day of the new year today, as early gains were actually held for more than a few minutes and then built upon later in the day. Now, before we get too excited, tomorrow we get the all-important jobs report, and that is likely to...
Friends Volatility continued today as stocks gyrated back and forth between positive and negative territory. Each economic data point and every syllable uttered by a Fed official seemed to send stocks one way or another. On the economic front, ADP estimated that private payrolls will rise by 175,000 in...
Friends Stocks finally bounced a bit today, a “dead cat” bounce perhaps, but a bounce nonetheless. After spending a short time in negative territory, stocks found their footing and despite some weakness early in the 2:00 hour, the bulls were able to hold onto earlier gains. Corrections are often...
Friends Fueled by another weak domestic economic number, today’s being the ISM Manufacturing Index, stocks tumbled once again, as market indexes are heading for the official “correction” moniker. First, a thought about the recent economic weakness. I know it is a “way too often” used excuse, but weather in...
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