Friends I hope you have your seatbelt fastened tight because this week’s roller coaster ride continues. Today, the bulls had the upper hand as after a plethora of economic data before the opening bell, stocks surged to the upside once trading began. As the session wore on, stocks added...
Archive for month: September, 2016
Some Calm After Three Days Of Action
Friends Stocks spent time in both positive and negative territory, but by the close, the bears slightly held the upper hand. It was one of those days that it appeared traders didn’t really know where to find their cues. Fed officials are now quiet until next week’s meeting and...
And Back Down We Go
Friends As I mentioned the other day, everyone seemed to be bored with the lack of movement that we saw in stocks during the month of August. Traders were looking for a little action. Well, as the saying goes “be careful what you wish for.” After Friday’s mess, stocks...
The Pullback Failed To Hold
Friends Today’s Fed official’s comments were a little less hawkish, so Friday’s decline and today’s preopening weakness vanished in a flurry of buying. All this nonsense will be put to rest for good come next week when the FOMC actually meets and decides whether to raise rate or not....
Stocks Tumble On Rate Hike Fears
Friends Everyone has been bellyaching that stocks haven’t moved (shown any volatility) for months-well, we got some movement today. Unfortunately for the bulls, the selloff in stocks today was triggered by hawkish comments by a Fed Governor this morning before the opening bell. Just when investors were getting comfortable...
Negative Bias
Friends Stocks look to be taking on a slightly negative tone as we work our way into September. Nothing of any real consequence, but it appears that market participants are a little bit hesitant to add to long positions at the moment. We are still trying to determine if...
Where’s The Action?
Friends While the business media was obsessing over the Apple rollout of the iPhone 7 today, stocks were busy doing a whole lot of nothing. The beige book report shows modest domestic economic growth, but did show a bit of strength in wage growth (but little else in terms...
Back To Work
Friends Ok, everyone should be back from the Hamptons now and trading volume and interest should pick up. Today, we did see a bit of volatility as stocks spent time in both positive and negative territory. By the close, the bulls had the upper hand, but I wouldn’t call...
A Goldilocks Jobs Report
Friends Well, it appears we had a goldilocks type of jobs report this morning. Oh, it disappointed on some levels, as the 151,000 new jobs created was less than the 180,000 or so expected, and the 0.1% increase in average hourly earnings was somewhat anemic, but market participants found...
Stocks Quiet Before Jobs Report
Friends Stocks drifted in decidedly negative territory for just about all of today’s trading session until a small recovery kicked in during the last hour of trading. There was very little in the way of any news catalysts (although auto sales were a bit disappointing, as was the ISM...
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