Daily State of the Markets
Slow Means Go After Fed Alters Its Outlook
Until yesterday, traders worried that the Fed might increase rates sooner than expected. Until yesterday, traders were concerned that the recent good economic news might wind up being bad news for the stock market. And until yesterday, traders fretted that the Fed might make a mistake.
Are Things Really and Truly Different This Time?
Yesterday's trash-job in the stock market has bearish analysts telling anyone and everyone who will listen that this time it's different. This time, the bounce and the expected "V" bottom failed, we're told. This time, the technical damage is just too great. This time, there are huge dive…
It's a Good News/Bad News Situation
The big news this morning is the continued weak economic data out of Germany. As if yesterday's surprising dive in manufacturing orders (orders fell -5.7% in August) wasn't enough, today's report on Industrial Production was also much weaker than expectations and hit the lowest level in m…
7 Dips, 7 New Highs. Will This Be Number 8?
What a difference a day (or two) makes in this business. Last Wednesday, the sky was falling and the bears were adamant that this time things were going to be different. Those seeing the market's glass as at least half empty were confident that one of the longest bull markets in history w…
Yet Another Dip-Buying Opportunity, Right?
The volatility continued on Thursday as investors were treated to a yet another in what has been a string of wild rides. For example, the futures had pointed to a modest rebound at the open of trade on Wall Street yesterday. However, within an hour, the Dow was down triple digits, the S&a…
What Do The Cycles Say Comes Next?
The markets turned ugly on Wednesday as traders ushered in the new quarter with a steady stream of selling. The S&P 500 fell -1.32 percent while the embattled Russell 200 once again led the way lower by dropping -1.42 percent. It is also worth noting that the smallcap index closed at …
Repeat After Me: I Will Not Make...
I was recently taken to task on Seeking Alpha for providing a "daily dump" of information (this was likely a play on the title of my morning missive, "Daily State of the Markets") and for failing to provide specific guidance on (a) what the reader should do and (b) what I believe will hap…
Traders Have Seen This Movie Before
Twice in the last two days, it looked like the bears were finally going to break through. Twice in the last two days, the S&P 500 teetered on the edge. Twice in the last two days, the market came roaring back. And twice in the last two days, the bears went home disappointed.
F…
Is This Dip-Buying Opportunity Different?
With the exception of Japan and Shanghai, the major stock markets around the globe find themselves on the defensive again this morning. And other than the usual speculation about additional stimulus in China and Japan, it is the growing pro-democracy protests and the accompanying police r…
Is This THE Correction?
Wait, what? On Wednesday, stocks blasted higher on the back of Super Mario singing a dovish song, word that China was about to sack the head of its central bank in favor of someone more modern, and not one, not two, but three Fed Governors suggesting that the Fed would likely take their t…