Friends After a terrible 4th quarter of 2018 where we saw that worst December for stocks since the 1930’s, market participants were the recipient of a stellar 1st quarter of 2019. After the Dow had tumbled nearly 10 % just in December, highlighted by a 2.35% drop on Christmas...
Friends It was a somewhat quiet day with respect to volatility, but all in all it was a positive day for the bulls as we wind down to the end of the 3rd quarter. The final read on 4th quarter GDP was revised downward, and again feeds into the...
Friends Well, that was an odd day for stocks. With bond yields plunging early, recession talk was on the lips of market participants, and stocks tumbled into negative territory with the Dow down more than 200 points. The bulls clawed their way back to positive territory late in the...
Friends Stocks got off to a rip roaring start this morning with the Dow sporting a nifty 200 point gain shortly after the opening. But, as the morning wore on those gains eroded basically erasing the early morning advance. The bulls gathered themselves, however, and by the close were...
Friends It was big day for news headlines, but stocks remained mostly unaffected. After Friday’s mess, it was interesting to see if stocks would follow through to the downside when trading started today. Also, it was interesting to see how the release of the Mueller report would affect...
Friends As soon as the yield curve inverted (3 month yields higher than 10 year yields) this morning, stocks took a tumble. One might even be led to believe that algorithms were in place to sell stocks instantly as soon as the yield curve inverted. Indeed, stocks tumbled early,...
Friends The bulls were disappointed in yesterday’s price action after the dovish FOMC statement, but were more than satisfied with today’s delayed reaction. Stocks gathered steam after a quick selloff at the open and tacked on some nice gains by the close. Nothing really changed from the day before,...
Friends I half expected Fed Chair Powell to conduct his post FOMC press conference from an aircraft carrier donning a fighter jacket, while declaring “mission accomplished”. Indeed, the normalization of monetary policy has apparently been achieved – at least for now. Today, the Fed made it clear that they...
Friends Although we don’t expect much to come out of this week’s FOMC meeting, it felt like market participants were in a wait and see mode today. Stocks did spend most of the day in positive territory but only modestly and without much conviction. But, at this point for...
Friends The fifth time was a charm. After 5 tries since the 4th quarter of last year, the bulls finally penetrated the 2800 (2815 level to be exact) on the S&P, and were able hold it into the close. The economic data was mixed with consumer confidence and job...
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