The employment number was better than suggested yesterday. Still, over two million are out of work and the average work week has dropped to 33.3 hours. Employers seem to be cutting hours prior to dismissing employee. This would indicate that higher unemployment is coming. One …
Early Asian trading is modestly positive. Chevron has said it will have a rough fourth quarter, hard to believe. But that will make news in the morning. Citi’s mortgage agreement with Congress is intriguing and will also be front page stuff. This could be really …
The skeletons from Bernie’s fraud keep popping up. At least two suicides can be attributed to the scheme. Pension and private funds from around the world have been devastated with little hope of recovery. As I said in an earlier piece I feel this event …
The market was almost even as Obama began his speech. This could not have been a bigger downer. He raised the specter of double digit unemployment, multi-year recession and trillion dollar deficit—–all for years, not just this year. Nothing new, really with this talk or …
We have gone from overbought to oversold. But the market doesn’t read charts. Wal-Mart was the crusher in this morning’s news. Last year’s darling reported ugly revenues so the stock is down 10% in pre-market. 10%! You cannot ignore the horrendous earnings from retailers. There …
Asia is down 2%+. Tomorrow is the fifth trading day of the year. Lots of folks look at the first days of January as predictive of the year’s performance. Should we close down it would not be constructive. A lower close tomorrow would be a …
The market went down hard. Yesterday I exclaimed at how strong the Transportation and Russell 2000 indexes were. Well, today they were down 4% and 3.4% respectively. Importantly, the S&P stopped going down right at 902. Nine hundred is viewed by technicians as being the …
In the face of pretty disturbing economic indicators and corporate pratfalls as well as generally overbought conditions one would expect this correction. The preannounced revenue and earnings shortfall at Intel is especially troublesome. Chip sales are a leading indicator, their use has become omnipresent. The …
Have an appointment this morning so this will be short. I should have bought an inverse ETF yesterday. This will hedge my rather active buying of the last three weeks. As the market declines these inverse ETF rise. Its not a panacea due to portfolio …
Asia is up about 2% as it opens, much to almost everyone’s amazement. Could this be yet another harbinger of a higher US market? See ya in twelve hours, or so, and we will know.