Friends It appeared for most of today’s very quiet trading session that the drift lower that we have seen this week was going to continue. Indeed, stocks fell in early trading, but as the afternoon wore on the losses dissipated. Perhaps, as we mentioned, the shorts/bears decided to cover...
Archive for category: Market Commentary
Stocks Drift Lower Amid Quiet Trading
Friends It appears that the stock trading community is on an extended spring break. For a third trading session this week, volume has been light and volatility almost non-existent. Yes, we have drifted lower over the past couple of sessions, but more than bears selling, it really seems to...
Terror Attack Doesn’t Move Markets
Friends Just when we were settling in for a quiet week before the Easter holiday, we woke up this morning once again to news of terrorist attacks overseas. As in these situations before, it is difficult to comment on what happened in the stock market when lives have been...
Quiet Beginning To A Shortened Week
Friends Stocks drifted somewhat aimlessly for the entire trading session today. The lack of volatility and/or interest in getting involved may simply stem from the fact that after the dramatic action that we have seen over the past 11 weeks, market participants simply need a rest. The Fed meeting...
Stocks Finish Off A Strong Week
Friends The bulls put a cherry on top of this week’s, and for that matter the last five week’s stock rally as share prices pushed higher right from the beginning of today’s trading session. The Fed’s dovish statement this week led to a weakening dollar, which in turn led...
Bulls Wipe Out 2016 Losses
Friends The bulls stepped up in today’s trading session, buoyed by the dovish Fed statement from yesterday, a weak dollar and surging oil prices, and went on a buying spree. Minus a weak health care sector, stocks were up across the board with industrials, materials and energy leading the...
Stocks Rally on Fed’s Dovish Statement
Friends As expected, the Fed did not raise interest rates today. Also, as expected, the Fed dialed down their expectations for rate hikes in 2016. Going into the year the Fed had expressed the notion that four rate hikes were likely for calendar year 2016, but today via the...
Waiting For Fed Day
Friends Stocks sold off on the opening of trading, but the bulls regrouped and by midday had stocks trading near the breakeven level. For the rest of the trading session traders seemed to be biding time before tomorrow’s conclusion of the FOMC meeting. On the economic front a downward...
A Busy Week Ahead
Friends With the two day Fed meeting scheduled to begin tomorrow, markets seemed to be in a bit of a holding pattern, as neither the bulls nor the bears seemed interested in making anything more than a token gesture towards today’s trading session. Stocks spent the day waffling in...
Delayed Reaction
Friends ECB President Draghi threw everything but the kitchen sink at the markets yesterday, but the reaction was very muted. Perhaps market participants had a change of heart. Long Live Central Bank Intervention. Indeed, after yesterday’s collective yawn, the bulls decided to go on the offensive. Following Europe’s lead,...
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