Daily State of the Markets
There Is No Bubble in the U.S. Stock Market, But...
One of my personal pet peeves about market pundits these days is the preponderance of bubbles being sighted. Nary a day goes by where you don't see an article on the major financial sites about a bubble in this or a bubble in that. The problem is that almost by definition, when a bubble i…
China, Bullard Making Headlines...
While the spotlight has been on Janet Yellen this week, this morning traders are turning their attention to China. In Shanghai, stocks rocketed higher with the composite index gaining 2.14% overnight. Calls for additional monetary stimulus/easing were cited as the primary driver behind th…
The Key To This Move Is...
The key to yesterday's move to fresh all-time highs was easy to identify as Janet Yellen did herself proud in front of the Senate Banking Committee. So before we move on to other inputs or the drivers behind today's early action, let's spend a moment or two to understand what the nation's…
The Story of the Day Is...
There was no shortage of stories to attract the attention of traders and their computers yesterday. It seemed like there was a new item flashing across the screens every 15 minutes or so. However, at the end of the day, the market only seemed to care about a couple things - Yellen and App…
On To The Next Big Thing?
The fact that the S&P 500 finally made a convincing break for the border and finished at an all-time high on Friday may have some investors scratching their heads. Yes, there was a deal reached to extend Greece's loan by four months. However, haven't we seen this movie before? Isn't t…
The Drama Continues But The Real Question Is...
Today's market action continues to be all about Greece. As is typically the case on a Friday, there has been a flurry of headlines from both sides of the debate today. For example, it is being reported that the ECB is preparing for a Greek exit from the Eurozone and that the central bank'…
Greece, Oil Remain the Focal Points
Trying to pin down the primary driver of the current stock market is a little tricky as there seems to be three or four sources of input these days. For starters, there can be little doubt that traders are keeping an eye on Europe/Greece. Yet, the headlines coming from across the pond hav…
If Prices Continue to Follow the Recent Trend...
To say that the recent market action has been frustrating to traders would be an understatement. Since the beginning of December, the major indices have moved up and down within a clearly defined trading range and changed direction no fewer than eight times. The mood has flip-flopped back…
Traders Cutting To The Chase
The current Greek drama appears to be going largely according to script. Past crises related to Greece have taught traders to push stocks higher when optimism that the latest "deal" is going to get done and conversely, to hit the sell button early and often when it looks like there is no …
Is Optimism Returning to Wall Street?
Although Greece remains the focal point at this time, the good news is that according to sources, the Eurogroup's finance ministers appear to be working toward a deal that would extend the terms of the current bailout for something on the order of six months. This would provide time for b…