Friends It ends up being a very good week for the bulls. First, the Fed delivered the more moderate/dovish message that the markets were hoping for, and as we enter the weekend, there is hope that some sort of trade agreement will come out of the G20 summit. So,...
Archive for month: November, 2018
Mixed Messages
Friends After yesterday’s rally, stocks were vulnerable to any type of negative news. After a soft opening, stocks rallied on news that the President was feeling like a deal with China could get done this weekend, should he feel like dealing. But almost immediately after that it was discovered...
Powell Delivers
Friends It appears that all Fed Chair Powell had to do was give the Fed a little leeway with regards to future rate hikes, and the bulls would run again. In his presentation to the Economic Club of New York, the Fed Chair delivered the slightly more dovish view...
Bulls Hang Touch
Friends After stocks had posted nice gains to begin the week, yesterday just at the close, came news of a Wall Street Journal interview with President Trump where he reiterated his intentions to go forward with tariffs if things don’t go well this week with the Chinese. In addition,...
Stocks Rally After Strong Retail Weekend
Friends After Friday’s miserable half session performance, stocks rose at the sound of the opening bell this morning and held the gains, and even added to them, as the trading session wore on. There was no real catalysts for the rally (as there was really no catalyst for Friday’s...
Thanks and Happy Thanksgiving
Friends Stocks rallied in the first hour of trading and it appears that everyone went home after that. There was a dead cat bounce in some of the tech names early on, but some of those gains bled away as the afternoon wore on (as did the gains on...
About To Test October Lows
Friends You know, if you really look at the numbers, retailers are actually delivering very good earnings reports this week, but given the environment for stocks none of that matters. Once again stocks took it on the chin today as early selling had stocks languishing in the red for...
Another Difficult Start
Friends It was another difficult start to a week, as stocks slumped early and continued to lose altitude throughout the trading session (except for a quick bounce at 2:00). Today’s Housing Market Index report showed considerable weakness as future sales are being hindered by rising mortgage rates. On Wednesday...
More Frantic Trading Action
Friends Another crazy day of trading as stocks continue to react to every report (true or not) about China and tariffs. After being down more than 300 Dow Points, stocks rallied on reports that China might be making some concessions and the tariffs which had been scheduled to take...
More Weakness
Friends Well, it was another volatile day for stocks and early gains turned into sizable losses, only to see the losses erased and so on… Continued weakness in shares of Apple illustrates how the market leaders have been taken to the woodshed over the last 6 or 7 weeks....
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