Daily State of the Markets
The Macro View From 30,000 Feet - Part III
Good Morning. With stocks in an uptrend at the present time and nothing much new to report, we're going to finish up what will now become at the very least a bimonthly review of the global macro picture. This morning we will take an executive summary look at Japan, Commodities, and Curren…
The Macro View From 30,000 Feet - Part II
Good Morning. Our best guess is that the U.S. stock market is continuing to recover from the "tapering = tightening" freak-out that occurred from 6/19 through 6/24. Some will argue that stocks cannot survive rising rates for long while others (more specifically, those dressed in their hor…
Action Speaks Louder Than Words
Good Morning. Are we having fun yet? For a seventh consecutive day, stocks were whipped around in a violent fashion by the big boys and their computer toys yesterday. The Dow once again put up a triple-digit move, this time a dive of 206 points. The problem is that each move tends to reve…
The State of the Speculation
Good Morning. For the fifth day in a row (and the eleventh out of the last twelve), the DJIA experienced intraday volatility exceeding 100 points yesterday. While volatility in and of itself isn't a big deal these days, we do have to recognize that this represents a change in the market's…
Will We Be Talking Taper Soon?
Good Morning. The question of the day is whether or not the Federal Reserve Board will begin "talking taper" at this week's FOMC meeting. Although we will find out soon enough (it is a safe bet that Ben Bernanke will address the subject at his press conference which will be held at the en…
Do The Bears Have A Case?
Good Morning. This time the bears refused to be run over. This time, after a quick 50-point swing upwards in the S&P 500, the short-sellers were rewarded for selling into some resistance. This time, the good economic news (the NFIB Small Business Index hit the second highest level sin…
What Do The Cycles Say For June?
Good Morning. The argument as to what comes next for stocks falls along party lines at this point. The bulls contend that they were tested last week and that the all-important line in the sand held. As such, our furry friends suggest that new highs for the major indices are only a matter …
The Price of Perfection
Good Morning. The title of this morning's missive is "The Price of Perfection." The first point that needs to be made is that using the word "perfection" in anything related to the stock market may get me in trouble with Ms. Market. As anyone who has been in this business for any length o…
Looking For The Line In The Sand
Stocks have entered a correctional phase of some sort. The next logical question, of course, becomes how low will the pullback go?
Don't Fear The Taper
Good Morning. Stocks have been see-sawing back and forth a fair amount lately and realistically, the short-term trend can't be rated any better than moderately negative right now. And after a strong rally that marched relentlessly higher for six straight months, I think we can all agree t…