Friends The bulls were able to crank up a little rally music today, but it did seem somewhat half-hearted. Despite the push higher stocks are still down nearly 20% as measured by the S&P 500 and nearly 34% as measured by the Nasdaq year-to-date. Bonds are also down...
Archive for month: December, 2022
Stocks Sinking Into Year End
Friends It appears that the bulls are taking 2022 in for somewhat of a crash landing. No, the guy in the red suit is not involved. As a matter of fact, he is nowhere to be found at the moment. Instead, relentless selling into year end seems to be...
Market Averages Mixed/Nasdaq Falters
Friends Hopes and dreams of a spirited Santa Clause rally fell to earth today as the bulls could never really get anything going that even resembled enthusiasm for stocks. Retail sales jumped nearly 8% for the holiday season but a lot of that increase was reflected in higher prices...
Let The Santa Rally Begin/Christmas Message
Friends, Stocks did move higher today in a very quiet fashion. Being that Monday, the markets are closed, this was the first day of the potential Santa Claus rally. Let’s hope the man in the red suit brings some presents for the bulls to open next week. ...
Stocks Disappoint Santa Hopefuls
Friends The bulls thought they had Santa all dialed into their GPS system yesterday, but a negative view from a hedge fund behemoth and the continuing collapsed of Tesla shares really took the wind out of their sails. Stocks opened lower and by midday were dropping like the...
The Bulls Stop The Bleeding (barely)
Friends The bulls are trying. They really are. It was a somewhat quiet day of trading as the bulls were able to keep the market averages in the green (barely) most of the session. But after the shellacking that stocks have taken the last couple of weeks, today’s...
Not A Good Start To The Week
Friends It was another difficult trading session for the bulls. Any hopes that a Santa Claus rally might begin to take shape this week were dashed. Sentiment is awful as recessionary indications are everywhere and as we know the Fed is still firmly in their hawkish rate raising...
Stocks Conclude Another Difficult Week
Friends Although stocks did finish well off their lows, it was another bad day and bad week for the bulls. Negativity, as we move into the holidays is at a peak with the narrative being that there is really no way that we avoid a painful recession in 2023....
Fed Hangover Sends Stocks Plummeting
Friends First, I just want to remind you that we said it was likely to be a wild ride for stocks this week, and it certainly has. Traders decided today that the Fed is simply going to stay too restrictive in their monetary policy for too long and the...
Stocks Gains Erased After Fed Release
Friends As expected, the Federal Reserve raised the Fed Funds rate another 50 basis points today bringing the rate to 4.25-4.5%. And as expected, both in the Fed statement itself and in the 45-minute press conference the Fed remains steadfast that they are taking rates into the 5’s...
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