Daily State of the Markets
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…
Traders Have Seen This Greek Drama Before
To be sure, the current situation in Europe has a familiar ring to it. Greece makes demands and threatens to leave the Eurozone. Greek officials make offers. Germany says, "Nein!" Analysts then fret about what could happen to the banks of Europe should the Greeks decide to walk away. And …
None The Worse For Wear?
Everybody knows that the attention span of a Wall Street trader often rivals that of a gnat. Understanding this helps explain the schizophrenic behavior displayed by the major indices since the beginning of December. Back and forth. Up and down. Eight direction changes in two months, with…