State of the Markets
All Eyes On Global Interest Rates
The big stories in the market at the present time are the recent backup in global interest rates and Janet Yellen's "Irrational Exuberance" moment last week. First, the Fed Chairwoman mentioned in a speech last week that stocks valuations are "quite high" at the present time by traditiona…
Five Ways To Play The New, New Normal Market
As I mentioned last time, I have had a fair amount of time to think about the state of the markets over the last week and a half. My travels first took me from Colorado to Des Moines by car for my youngest daughter's college graduation, and then on to Newport Beach for NAAIM's (National A…
Pondering a Change in the Market Landscape
As I have been traveling by car and planes from Colorado to Des Moines, IA for my youngest daughter's college graduation and then on to Newport Beach, CA for the NAAIM (National Association of Active Investment Managers) annual conference, I have had a fair amount of time to think about t…
Is This The New, New Normal?
The question of the day is if Thursday's decline, which seemed to lack any real catalyst, was the start of something meaningful or just another in a long string of pullbacks seen since the beginning of December. And for those keeping score at home, should the current decline continue, it …
Just The Way The Game Is Being Played
There can be no denying that intraday volatility has been "a thing" during the vast majority of 2015's trading sessions. And while all too often there is nary a catalyst to be found, this was most certainly not the case on Wednesday as traders dealt with a European tank-job, yields rising…
What's the Takeaway?
With the end of the month approach and the stock market acting a little strange lately, I thought it might be a good time to step back from the blinking screens and do an overview of the market using different lenses. What follows is my attempt at a succinct summary of each of the primary…
Modern Day Distribution?
There is an interesting pattern developing in the stock market these days. And while this pattern may be rooted in a very old-school concept - which may or may not apply to today's fast-moving, algo-driven markets - it is worth noting all the same because the implications are worrisome.
Dangerous Divergence Developing?
It is rare that a single session can make or break a market trend. And while the jury is still out on which way Ms. Market is leaning at the moment, Friday's action gave both teams something to crow about. You see, on the one hand the NASADAQ roared higher to another new all-time high on …
Will The Generals Follow The Troops This Time?
The headlines read that after more than a 15-year hiatus, the NASDAQ Composite index finally returned to new all-time highs yesterday. Think about that for a moment. It was more than 15 years ago that the technology bubble burst and ushered in the first of two brutal bear markets during t…
The Waters Remain Muddy at Best
The easiest thing to say this morning is that yesterday's action represented a case of "same song, different day" as the move up in prices really had little to no impact on the overall picture. The bottom line continues to be that there is still a fair amount of uncertainty in this market…