Friends Stocks were battered today following comments from a conference in Las Vegas last night by hedge fund manager David Tepper. Tepper in a Q &A session let the audience know that it might be a good idea not to be fully invested in stocks right now. This is...
Friends Stocks fell early and often today after the government PPI report indicated that inflation is hotter than possibly the Fed expected. But the most fascinating part of the story is not that stocks fell, but that bond yields also fell (bond prices rising). Typically a hotter than expected...
Friends The bulls were able to penetrate the 1900 level on the S&P for a brief moment today, but very little enthusiasm followed and shares quickly fell back toward yesterday’s closing levels. Before the opening, the Retail Sales number for April was soft and below the consensus expectations, but...
Friends Stocks got off to a good start for the week, as the lack of any cataclysmic news out of Ukraine (Putin was too busy racking up six goals in a “hockey game”) allowed traders to shop in peace today. Many of the recently beaten down high flying momentum...
Friends It was another listless day of trading (despite market averages dancing near all-time highs), as traders seemed mostly uninterested in participating on either side of the ledger. There was a little bit of volatility, but as we pointed out yesterday, there is just no real direction (plot) to...
Friends The stock market these days is like a movie that has a lot of action, but no plot. Once again today we were entertained by wild gyrations, as the Dow reversed an up over 100 point day and plunged into negative territory – only to recover in late...
Friends There were a lot of crosscurrents in the markets today. Quality “blue chip” type stocks were being snapped up by traders while at the same time momentum driven “previously high flying” growth stocks were being sold hand over fist. The divergence showed up in the averages, as the...
Friends Sparked by more Russia/Ukraine unrest, and reports that 1st quarter GDP may actually be adjusted negatively (making it a minus number), stocks spent the day in negative territory. Despite Tuesdays being positive most of the time this year, the bears were able to dictate the proceedings today. By...
Friends After a quick sell-off early this morning which saw the Dow down nearly 150 points, stocks (fueled by a better than expected ISM Non-Manufacturing number) rallied to finish the day slightly in positive territory. After the bulls were able to force the averages back into the green by...
Friends Traders had a lot to deal with today. First of all, we got the non-farm payroll number this morning which was better than expected as 288,000 new jobs were created in April. Now, the question is-is this just a rebound from the bad weather related numbers of previous...
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