Daily State of the Markets
If It's A Bear...
Good morning. With the S&P 500 down 8.0% on the year, it is safe to say that 2016 isn't off to a great start so far (for those keeping score at home, this has been the worst start to a new calendar year on record) . With the S&P 500 down 10.9% from the most recent (11/3/15) high a…
Is The Game Changing?
Good morning. Let me cut right to the chase this morning by saying that unless the bulls can get their act together and produce some buying that is driven by more than algorithmic-induced trend-following and/or short-covering, is prompted by more than an oversold condition and a search fo…
China Pulling Out All The Stops And...
Good morning. The bad news is that China's Shanghai and Shenzen market indices fell more than 2% overnight (Shanghai -2.41%, Shenzen -3.47%). The good news is that European and U.S. markets don't seem to care.
Based on the action in both Europe and the U.S. this week, it would app…
Keeping an Eye on China and...
Good morning. Now that we all know what the focal points of this market are, namely the yuan, China's stock market, and oil, it is probably a good idea to start off this fine Tuesday morning with a review of the latest on the subjects.
This morning, stocks are rebounding smartly a…
By Now You Probably Know...
Good morning. By now, you are probably already aware that the stock market has gotten off to the worst start of any year in history. So much for the favorable seasonality. So much for the asset allocation work that typically helps equities at this time of year. And so much for all of the …
A Reprieve, But For How Long?
Good morning. Given all the excitement we've seen this week, I personally find it remarkable that this is only the fifth trading day of 2016! And after the worst 4-day start to a new calendar year ever, it looks like today is going to be another wild one. Only this time, it looks like the…
Three More Reasons to Worry
Good morning. It looks like it will be another very bumpy ride on Wall Street today as U.S. stock futures are down again in the early going. There are three issues in play this morning that warrant your attention: The Chinese yuan, a successful hydrogen bomb test in North Korea, and oil.
Understanding What The Game Is About Here
Well that was harsh. Just when you thought that maybe, just maybe, the algo-induced intraday violence that had dominated the market action in 2015 might abate and that maybe, just maybe an actual trend lasting more than a month might begin, the 2016 opening bell rang. And before you could…
Putting 2015 in Perspective and Looking Ahead
It is my sincere hope that everyone enjoyed the holiday season and took some time to get away from the blinking lights for a week or two. But now it is to time to hit the reset button and get to work, for 2016's game is about to begin!
As we enter another new calendar year (which,…
Don't Be Fooled, All Is Not Right With This Market
With a Holiday season upon us, it is a good bet that most folks have their attention focused on more important things than the stocks market right now. As such, I'll cut to the chase this morning. The big thing I'd like to get across in today's missive is that this is no time to be compla…