Friends Yes, I am back, and yes, the Dow dropped more than 400 points immediately at the open of trading this morning. Coincidence? I think not. Fortunately, market participants decided to buy this morning’s early downturn and pushed stocks higher during periods of the trading session. Though the bulls...
Friends Just a few observations this morning from the road. First, the heartache that our nation feels this morning after the murders at the elementary school in Uvalde, Texas is immeasurable. We have almost become numb to it which might be the saddest thing of all. As...
Friends Somehow word got out that I was heading off on my first “vacation” in more than three years. Market participants began selling stocks at the open and things continued to deteriorate for the remainder of the trading session. Many of you know my record concerning the markets...
Friends It was a good day for the bulls as rallies were able to hold up even into the dreaded last hour of trading. About a half a dozen Fed officials, including the Chair Powell were either speaking or interviewed today, and nothing really earth shattering was muttered...
Friends The bulls tried to add to Friday’s somewhat unenthusiastic rally, but once again late in the trading session the sellers appeared and pushed stocks back into negative territory. As we have pointed out, rallies seem to be continuously met by waves of unyielding selling pressure. We have...
Friends The bulls were able to muster a little bit of a rally today with the beleaguered Nasdaq leading the way higher. Stocks had gotten very oversold on a technical basis, so a counter trend rally was due at any moment. This wasn’t one of those monster moves...
Friends You know the markets are difficult when just ending the trading session off of the day’s lows is a relief. Indeed, off the lows is the new up when it comes to moves in the stock market these days. Yes, it was another difficult day for stocks...
Friends This morning’s CPI data showed inflation year over year running at 8.3%. Ok, that’s better than last month’s 8.5% but not much. Stocks were looking to open higher before the open until this number hit. Throughout the trading session, as we have seen recently, any attempts to...
Friends The bulls had turnaround Tuesday on their minds at the open today, but they really kind of got it wrong. Better would have been if stocks had fallen at the open only to be reversed later in the day and pushed higher at the close. Instead, stocks...
Friends It was another case of basically sell everything today. Stocks were down, commodities were down (including oil and gold), crypto currencies were down. Only bonds rallied a little (yields down). Even this year’s winner the energy sector was down more than 8% for the day. Nasdaq is...
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