State of the Markets
Happy Twosday
By:
Good morning, and Happy "Twosday." As in 2/22/22, which is not only a palindrome because it reads the same forward as backwards, but today's date also consists of all the same digits. The ultimate freakiness for such dates occurs at 2:22 am and pm, so brace yourself for that this afternoo…
Working Through The Issues
By:
Make no mistake about it; there is no shortage of issues to work through in this market. In short, this is what corrective phases are all about - dealing with the "new normal" when things change. Remember, the stock market is a discounting mechanism of future expectations. And I think we …
Are We Having Fun Yet?
By:
It's been a very busy start to the new year and there are a great many pieces to the puzzle that make up this market. While I am short on time this morning, let's see if we can't run through the host of issues that investors are attempting to deal with at the present time.
Let's s…
Two Thoughts Before You Panic
By:
Unless you've been living in a cave, you are likely aware that markets are in the midst of a rather violent "reset" as traders/investors reprice things for the changing environment in fast fashion. To be sure, Friday's option expiry and corresponding record day for options trading, as wel…
Markets Rethinking The Outlook
By:
From my seat, the key driver to the current action in the stock market remains the spike in bond yields. This morning's early dance to the downside represents an exclamation point on this concept. In short, yields are breaking out to new highs for the current cycle, and stocks are followi…
Higher, Sooner
By:
One need look no further than the bond market to understand the current correction happening in the major stock indices. As is often the case, traders appeared to flip the switch the moment the calendar turned to 2022. Gone is the steady march higher based on earnings expectations. Gone i…
Bidding 2021 Adieu
By:
I try to take some time away from the keyboard at this time of year to spend more time with the family and to recharge the batteries a bit. So, until 2022 gets rolling on Wall Street, here's wishing everyone a Happy, Healthy, and Prosperous New Year!
Now let's review the "state of…
Market Gets Moody Again
By:
Traders appear to have returned to a risk-off mode to start the holiday-shortened week. The drivers of the move are fairly obvious as Senator Manchin's announcement that he won't support the Biden "Build Back Better" plan and the bad news surrounding Omicron are causing a rethink of the p…
Weathermen Were Invented To...
On Friday, we learned that inflation, as defined by the CPI, aka the Consumer Price Index (which, for the record is not the Fed's preferred inflationary measure), rose 6.8% over the past twelve months. This was higher than expected as well as the highest reading since... wait for it... Ju…
