Friends That was an ugly month. There’s really no other way to describe it. Stocks were down. Bonds were down. Gold was down. Crypto was down. April was the worst month for Nasdaq since 2008 (you remember the financial crisis). Sentiment is atrocious, the technicals are a mess,...
Friends It was a trading day that unfolded just as one would expect. We got a negative GDP print for the first quarter of 2022, so obviously stocks moved higher and gained strength throughout the trading session. Ok, I’m kidding (I think). Stocks did move nicely higher today...
Friends The bulls gave it a shot today. Stocks moved higher this morning with the Dow sporting a nice 400 gain at one point, but as we have seen a lot lately, the last hour of trading was not good for the bulls. After the close yesterday we...
Friends Yesterday’s relief rally didn’t carry over this morning which emboldened the bears. Worries that big tech earnings (Microsoft and Google after the close today, Apple and Amazon later in the week) could disappoint as did Netflix last week is sending shivers through the equity markets. It’s a...
Friends Not surprisingly stocks continued their slide at the open today, but interestingly enough buyers finally appeared this afternoon to turn the tide. A more than 400-point Dow downturn was reversed and by the close the market averages were firmly in the green. For the day, the...
Friends As stocks opened several hundred Dow points higher, I read online a pundit declare that it appears that investors have come to grips with the Fed policy and are now focused on corporate earnings. Well, that lasted about 10 minutes. By late morning Fed Chair Powell...
Friends One day does not a market make, but today’s surge in stock prices was impressive given the move higher in bond yields. It’s early, but earnings seem to be fine so far, so that helps, but today’s bullish action might just be best contributed to the fact that...
Friends After a very quiet day of trading, stocks slumped once again in the last hour of trading before trying to rally in the final minutes. More than any concerted selling, there appeared to simply be a lack of interest in buying. With Bank of America’s earnings today we...
Friends Today’s CPI release showed year over year inflation at 8.5% at the consumer level. Now, that sounds bad, and it is, but the silver lining might be that on a month-to-month basis the core inflation number (which excludes food and energy) was up .3% which is the...
Friends It was a rocky start to the week for stocks, and once again we are beginning to see the last hour of trading be the most damaging. While we were rallying a couple of weeks ago stocks were finishing strong at the end of each trading day. Now...
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