Friends Traders were content to let the month coast into the closing bell as stocks drifted aimlessly for most of the trading session. With next week’s full calendar of economic news including Mr. Draghi and the ECB’s decision on interest rates and the employment numbers next Friday, interest and...
Friends Despite the GDP number for the first quarter being revised downward to a negative 1%, stocks enjoyed a healthy gain after spending most of the day only slightly in positive territory. Traders are expecting the second quarter to show marked improvement in economic activity (which seems likely). That,...
Friends Traders of stocks seemed today to be paralyzed/mesmerized by what continues to happen in the bond market. Despite the improvement that we have seen, though very deliberate in nature, in economic data points, bond yields continue to decline. Folks, bond yields are “suppose” to rise when inflation picks...
Friends A bevy of positive economic data helped move stocks to new highs today, as traders came back from the three day holiday weekend with a shopping list in hand. The durable goods number was much better than expected, the Case-Shiller index showed that home price appreciation remains strong,...
Friends It seemed like after the first hour of trading, market participants headed out for the three day holiday weekend, as stocks basically stood still for the rest of the session. Traders basically dismissed Mr. Putin’s remarks broadcast on CNBC, and both the bulls and the bears seem somewhat...
Friends An old saying on Wall Street for trading sessions like today’s trading session is that it wasn’t worth the cost of a clean shirt and cab fare. Very little volume. Very little volatility. Very little overall interest. On the economic front the weekly jobless claims number pushed back...
Friends Ladies and gentlemen, we have a market that has no memory on a day to day basis. It looked like the bears had everything going their way yesterday, but here we are today and stocks basically regained everything they lost yesterday. Yes, the Fed minutes came out in...
Friends Poor earnings reports from several retailers weighed on stocks today, as the market averages spent the day decisively in negative territory. Of course, the winter weather was cited as the main reason behind all the disappointing results, but perhaps market participants are suspecting that there might be a...
Friends Neither the bulls nor the bears seemed very interested in today’s stock market action. Volatility was very low and volume was light as stocks drifted mainly in positive territory for the entire session. The bears thought they might have something going before the market began trading as futures...
Friends The bulls waited around for most of the trading session to see what the bears’ next move was going to be, but the bears seemed to be content with the disruption they caused on Wednesday and Thursday. Finally, in the last hour of trading, the bulls decided to...
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