Friends With the S&P 500 getting very close to the 4000 level, I saw a note today that remembered that the first time the S&P closed above 400 was in December of 1991. That’s a 10 bagger as we say in the biz, over a 30 year period....
10 Bagger
Slightly Lower
Friends The yield on the 10 year Treasury Note moved higher before the open today which led to stocks moving lower early in the trading session. Although those yields did move back down throughout the day, stocks stayed in negative territory. As we enter the end of the...
A Mixed Bag
Friends While the business media focused on a Family Office/Hedge Fund that is blowing itself up by having used outrageous leverage to accumulate certain stock positions, the market pretty much shrugged it off and continued to simply chug along. Interest rates ticked up, so naturally the Nasdaq dropped (although...
Stocks Finish Strong
Friends The bulls were able to build on the momentum that we saw at the close yesterday and push stocks higher to end the week. It was a mixed bag of winners and losers with no real discernable theme. Yes, the reopen stocks did pretty good, but so...
Stocks Reverse Recent Pattern
Friends We had a bit of a change of pace today with regards to market action. Instead of a late in the day fade, we had weakness in the morning, but a recovery in the afternoon. If you’re a bull, that is the pattern that you would rather see....
Gains Drift Away
Friends The bulls tried to rally the forces today, but in the end even the Dow could not hold on to feeble gains. Nasdaq shares fell even though interest rates on the long end of the yield curve did not rise. We seem to be falling into a pattern...
Concerns
Friends It was a difficult day for stocks and it wasn’t even the bond market’s fault. There seemed to be some concern among market participants that perhaps the coming economic boom is already priced in (as we have been somewhat concerned about for a while now). Even worse, there...
Rates Down, Nasdaq Up
Friends The yield on the long bond backed off a bit today which greased the skids for a move up in the Nasdaq. You know the drill by now, rates down/tech stocks up and vice versa. Even the Dow was able to post a modest gain as all...
Another Mixed Session
Friends It was another mixed day for stocks with the Nasdaq being today’s winner while the Dow, weighed down by a drop in financials, was on the short end of the stick. The yield on the 10 year Treasury Note was stable, which helped the beleaguered tech names,...
Dow Loses Gains While Nasdaq Just Loses
Friends Interest rates applied the pressure and stocks faltered as the trading session wore on. Again, with the early morning spike in longer term interest rates the big growth names all tumbled at the open. But, as the day wore on, even though bond yields moved lower from...
