Friends We all know the first half of 2022 is one we would sure like to forget about with regards to the markets (well, with regards to a lot of things but I’ll stay focused). We haven’t seen both bonds and stocks fall like this since 1970 (that’s...
Friends It’s like no one wants to take a stand before the end of the quarter and what might be a dicey earnings season coming up in July. We haven’t seen much interest on the buy side, but we also haven’t seen much conviction on the sell side...
Friends It looked like the bulls were prepared to hit the gas pedal on the quarter end rally this morning as the Dow moved nearly 500 points higher at the open. But things went downhill from there, sparked by more lousy consumer confidence data, and the Dow moved...
Friends Though there were a few missteps along the way, stocks had a pretty good day. Chair Powell was on Capitol Hill once again today, this time wrestling with the House Finance Committee members, which is exhausting to watch. I can’t imagine the patience the Fed Chair has...
Friends After an early morning downdraft of more than 300 Dow points, stocks found some footing and the bulls were able to push the market averages into positive territory for most of the afternoon, only to fall back into negative territory by the close. Fed Chair Powell was...
Friends Before my annoying caveats that it’s just a bear market rally/dead cat bounce, it was nice to see stocks move decisively higher today on this first trading day of the week. After the last two weeks which saw stocks fall about 11% it was nice to remember...
Friends The bulls fought hard to put up a gain, however modest it might be, but it wasn’t easy with a looming 3-day weekend. The S&P is now down 10 out of the last 11 weeks. That has only happened one other time ever, in 1970. I hope...
Friends Stocks continue to move lower as markets try to price in yesterday’s Fed action and the possibility of recession (we’ll talk about that tomorrow in our zoom call, make sure to join us). As we worried yesterday, the day following Fed rate hikes has not been good...
Friends The Fed raised the Fed Funds rate .75% (75 basis points) this afternoon. The leak to the Wall Street Journal turned out to be accurate as the Fed, somewhat shocked by last week’s CPI number, abandoned their plan to raise by 50 basis points. We haven’t seen...
Friends It was another sloppy day for stocks after the bulls tried to rally the troops early in the trading session. Given that everyone is waiting on the Fed’s decision on interest rates tomorrow (and perhaps the speed and intensity of QT), it’s not surprising that potential buyers...
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