Daily State of the Markets
If I Were Stranded On A Deserted Island...
Up until a few days ago, it looked like the bears were going to win the day. But then again, this is what "retests" are all about. The worries return to the market, the selling intensifies, and everyone in the game is reminded of what the bad old days of 2000-02 and 2008 felt like.
Crash Playbook Continues To Play Out
Immediately after the August 24 mini crash, I opined that the bottoming process could begin as early as that very week, which it did. I also wrote extensively and did a fair amount of media discussions on the topic. So far, the major indices are nicely following that scenario which had st…
Markets Back in Freakout Mode - What To Look For Next
I am short on time this morning, but with the market apparently back in "freakout" mode I thought it might be a good idea to quickly review some of the key takeaways from the current market action.
First, the excuse du jour for yesterday's dance to the downside remains the same - …
Are The Indicators Still Reliable?
While there are many issues weighing on the minds of investors these days including what the Fed is going to do next (and more importantly, when they are going to do it), the state of China's economy/stock market (last night's data wasn't good), and whether or not the bear market in commo…
Did Correction Fix the Valuation Problems?
Friday's expiration-enhanced dance to the downside, which came on the heels of the Thursday's Fed-induced reversal, left investors wondering if the market wasn't ready to roll over and retest the recent lows again. The bears could be heard telling anyone willing to listen that since the "…
Fed Inaction Puts Uncertainty Back In Play
Although the FOMC did exactly what Fed Funds futures and the majority of economists had expected (i.e. nothing) and the stock market indices did move up after Janet Yellen said the majority of the committee wants to raise rates by the end of the year, the fact that nobody really knows wha…
Fed Decision Day is Finally Upon Us
The long-awaited September FOMC meeting is finally upon us. And if history is any guide, there is little doubt that today's decision will have an impact on the near-term direction of the stock market indices. Well, after the usual post-announcement hysterics in both directions, that is.
Traders: It's Time To Place Your Bets
For investors who employ a subjective or discretionary approach to managing/trading the markets, it is now time to "place your bets."
As I've expounded on recently, "waterfall declines" such as we saw for six days during the middle of August, tend to follow a fairly predictable pa…
Has Tepper Got It Right Again?
For much of his career, billionaire hedge fund investor David Tepper shied away from the media. Instead, Tepper focused on building his Appaloosa Management into a powerhouse with an enviable track record. However, back in September 2010, Tepper appeared on CNBC and suggested that stocks …
Big Decisions Need To Be Made
With the intraday volatility continuing unabated, it appears that it's decision time in the markets. And the decisions made in the near-term by the Fed, the Chinese, and the price action itself will go a long way in answering the big-picture question of whether the current dance to the do…