Friends Last night on 60 Minutes, there was a segment focusing on Michael Lewis’s new book which evidently focuses on High Frequency Trading and the unfair aspects of machines front running human beings. In the interview, Mr. Lewis claims the stock market is “rigged”. First of all, the practice...
Friends Today marks the end of the first quarter of 2014. It looks like the S&P ends up slightly higher and the Dow slightly lower for the quarter. It was definitely a tug-of-war between the bulls and the bears. A positive perspective on the first quarter performance would be...
Friends Stocks enjoyed another nice trading session, as decent economic news (a better than expected Case -Shiller Index showed strength in housing prices) and lack of any new disturbing news in Ukraine, had traders in the buying mood. The Fed began its 2 day FOMC meeting today, and it’s...
Friends That pattern continues. Up mornings followed by afternoon sell-offs (the Dow was up about 100 points early). Now I grant you, not much damage has been done, with the S&P about flat YTD and the Dow down just a bit. But the old adage is that the first...
Friends Trading was quiet today, as the market averages spent time in both the black and the red throughout the session, but never very far from the breakeven point. The weekly jobless claims number was slightly better than expected coming in at 311,000 for the week. Very gradually that...
Friends We had another volatile day of trading, as an early 98 point gain in the Dow Jones Industrial Averages turned into a 98 point loss by the end of the session. We have seen many of these days where early gains disappear and the bulls are not able...
Friends Volatility picked up a little today as stocks rallied at the open to the tune of about 100 Dow points, then gave back almost all of those gains, only to rally once again in the afternoon. The economic data released throughout the morning was a bit mixed and...
Friends If we were just looking at the Dow Jones Industrial Average today, we might be tempted to say that it was a pretty non-eventful trading day. But the broader market averages had much more trouble, with the NASDAQ actually down by more than a percent. The Dow, not...
Friends As we pointed out yesterday, it was the messenger, not the message. Once traders got over the shock of watching our new Fed Chair, they realized that nothing really changed, and even if Ms. Yellen’s timetable seemed a bit hawkish, future data will determine what actually happens (by...
Friends Traders were just killing time today, waiting for the FOMC meeting to come to a conclusion and stocks were drifting along right at the breakeven level. Then we got the FOMC statement, which, as we expected, kept the tapering process on schedule and revealed that the unemployment goal...
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