Friends Today was a tale of two markets. On the one hand, the Dow Jones Industrial Average enjoyed a very nice day with the average dancing along with a triple digit gain throughout most of the day. On the other hand, NASDAQ was down big all day long, led...
Friends This week reminded me a little bit of 2011. Volatility seems to be coming back to the market as we move into the second quarter. Overnight, the Chinese GDP number came in just a little shy of expectations, but Asian stocks rallied anyway. Those rallies fizzled a bit...
Friends Buoyed by hopes that this evening’s GDP and Industrial Production numbers out of China will show improved growth and positive earnings reports from the few companies that have reported to date, stocks enjoyed a second day in a row of juicy gains. For the day the Dow Jones...
“…we will soon have to determine what reasonable valuation will be when the Fed is no longer a tailwind to prices.” Click the link below to read our full comments: 2nd Quarter 2012
Friends After five days of losses, stocks rallied from the opening bell today, fueled by comments in Europe that the ECB would likely be willing to buy more Spanish bonds, therefore providing a needed backstop should things continue to deteriorate over there. Last night’s earnings report from Alcoa also...
Friends Stocks suffered the fifth day in a row of losses, and today was ugly from the start. Once again, worries about Europe crept into today’s trading as futures actually looked to be slightly positive before the opening today. But as trading began, the selling started and by the...
Friends Since the market was closed on Friday, I wanted to check in with you this morning, as stocks will begin the day decisively to the downside. The all-important jobs number was released on Friday and it was disappointing. Only 120,000 new jobs were created, but expectations had been...
Friends Things got very quiet this afternoon as we prepare for the three day weekend. After continuing the recent downturn this morning, stocks rallied back to even by midday, only to drift for the rest of the trading session. The weekly unemployment claim report was a non-event this morning...
Friends The interpretation that good news is really bad news continued today, as stocks sold off early and often. Consternation continued that the Fed may not be willing to provide more liquidity (punch for the punch bowl) and in the first hour of trading the Dow Jones Industrial Average...
Friends Here we go again. I’ll try to explain how this works. The minutes released today from the Fed meetings last month indicate that Fed governors are feeling just a little better about the recovery of this economy. That’s good news right? Well, not necessarily, because you see, what...
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