Friends Stocks spent the day in negative territory as weakness overseas spread to our shores at the open and buyers never showed up to change the direction. Yes, we did rally from the lows of the day, but it never felt like the bulls had any control of the...
Friends We did have some volatility today, but it was in a much narrower range and quieter manner. An interview with Fed Vice Chairman Stanley Fischer in the late morning gave traders a couple of headlines to trade on, but as the afternoon wore on, buyers and sellers seemed...
Friends Guess what! We had a lot of volatility today. I know, what a shock, huh? Actually, it was shaping up to be another great day for the bulls, and after a late date hiccup, it did end up being a great one, but of course we had to...
Friends Ok, now that’s a little better. After yesterday’s massively failed rally, today’s early gains didn’t exactly instill confidence in the hearts of traders, but as it turns out, the gains not only held, but increased in the last hour of trading. A second massive reversal day would have...
Friends It was no real surprise that China announced new stimulus measures overnight to hopefully stem the tide of their stock market decline. As a matter of fact, we spoke about its likelihood in our conference call yesterday. Stock futures were rallying even before the announcement from the PBOC,...
Friends Wow, what a day. I hope many of you were able to join us on our conference call this morning. If not I will try to summarize what we talked about below. First let’s try to figure out just what happened today. After overseas weakness, stocks were set...
Friends Well, we have been waiting for/expecting this for quite some time. The last time we saw a week like this was back in 2011. Simply put, the market is correcting. Will we be entering a prolonged bear market? Of course, no one knows. The Russell 2000 (small cap)...
Friends If I told you we are in the middle of a bear market you might wonder what I was talking about. The Dow is only down about 4.5% YTD, and the S&P is down a little more than 1% for the year. That doesn’t sound that bad, does...
Friends We had some fireworks today while everyone was waiting for the 1:00 (our time) release of the FOMC minutes, Bloomberg “accidently” released the headlines about 20 minutes early. The minutes were mainly interpreted as slightly dovish (perhaps no rate hike in September) and stocks reversed what had been...
Friends Stocks drifted aimlessly in negative territory for the entire trading session today, and considering that we had more stress in China overnight that really wasn’t too bad. Walmart’s terrible earnings report didn’t help, but at least Home Depot’s good report (both stocks are in the Dow) did help...
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