Friends What began as a nice last day of the month rally, turned into a quiet but relentless end of the month selloff. There really didn’t appear to be any real catalyst for the moves today, neither the early morning rally or the afternoon selloff. After a remarkable, one...
Friends Fed Chair Jerome Powell had his day before the House Finance Committee and the results were mixed. Sure he presented well, but did deviate just a little from his prepared comments. BUT- some of the questioning was bizarre. I urge you to once and a while watch our...
Friends So much for going back to test the lows from earlier in the month. Stocks continue their impressive recovery from the 10% pullback we saw at the beginning of February. After Friday’s meaty gains, the Dow started off strong and added to the gains all through the trading...
Friends It was another day of frantic trading, but mostly in positive territory. It’s the kind of action that even when you end up higher you don’t feel particularly good about it. Today, the today traded within about a 300 point range, but it felt like more. By the...
Friends Stocks were firmly in positive territory midday, just waiting for the Fed minutes to be released. Then all hell broke loose. At first glance the Fed minutes appeared somewhat dovish, and indeed they are. The minutes indicate that the members were not overly concerned about inflation yet were...
Friends After recovering more than half of the recent decline last week, stocks stumbled out of the gate this week to post sizable losses on this first trading day of the shortened week. On the earnings front Wal-Mart had a disappointing report and added mightily to the decline in...
Friends Stocks were humming along midday with a couple hundred point Dow gain when news hit the tape about the Mueller indictments. The Dow gain was totally erased, sending stocks tumbling into negative territory. But when it was clarified that it was 13 Russians who were being indicted, stocks...
Friends Stocks rallied once again today, despite a hotter than expected PPI number. What is fascinating is that the narrative from two weeks ago is now being turned on its head. Fears of inflation rearing its ugly head sent stocks into a 10% correction and bond yields higher. Just...
Friends As we are hearing the news, with little details, about another potential mass shooting at a Florida High School, we will give you an update on the markets. Stocks recovered from an early selloff triggered by a hotter than expected CPI report. A week and a half ago,...
Friends We still have intraday volatility, but the range of motion has been narrowing over the past couple of sessions (less than 300 points today). But don’t get me wrong, there is still plenty of volatility. The Dow, for instance, was up nearly 100 points at 2:40 PM and...
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