Friends Thanks for all who participated in our call today. I hope we were able to shed some light on the market action in October. Indeed, despite the last couple of sessions it was a difficult month for stocks. Does the positive action over the last two days mean...
Friends How about that? A big up day for the bulls. Now the test will be can they post some gains tomorrow and put 2 up days together. We’ve talked about vicious rallies that accompany pullbacks/corrections/bear markets. What we need to see before getting excited, is some follow through...
Friends We had 2 large investment banks dueling it out today with Goldman Sachs commenting that the October sell off has been overdone and that we should recover some of the losses by year end. Taking an opposite view was Morgan Stanley who suggests that the October sell off...
Friends Stocks once again were under heavy selling pressure this morning with the S&P 500 falling into correction territory (correction territory is defined by a 10% or more decline from the highs). Earnings disappointments from the likes of Amazon and Google fueled the decline in the futures overnight and...
Friends Down 600 points one day. Up 400 points the next day. You might wonder what is the difference between yesterday and today in terms of market moves. Well, nothing really. This is how corrections/disruptions/even bear markets play out. Declines are quick and sharp, and countertrend rallies are...
Friends Checking in again from the road. As we mentioned, we’re likely not done with the volatility, and the ever increasing tensions on the political landscape aren’t helping. For the day, the Dow Jones Industrial Average was down 608 points to finish the day at 24,583. The...
Friends Checking in from the road. Stocks had a very volatile trading session today. After being down more than 550 Dow points, stocks rallied back throughout the afternoon to post more modest losses. Earnings have been ok, but as we worried, companies are speaking cautiously about the future....
Friends Before I get into today’s remarkable rally, I first want you to know that I will be out of the office for the next week and a half. My wife and I are off to celebrate my 60th birthday next week (we tried this 10 years ago for...
Friends Stocks made several attempts to add to Friday’s modest recovery, but in the last half hour the bears got the upper hand. The Dow had been up more than 100 points early in the afternoon before wilting, but you could feel the sense of caution among market participants....
Friends The volatility continues as an early morning 400 Dow point rally was quickly erased by midday. But, as the afternoon wore on, those who “needed” to sell apparently were able to do so during the morning rally, as stocks climbed higher in the last hour of trading. We’ve...
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