Am I nuts feeling sorry for Bernanke while he gets grilled by the Senators? Leave it to our US Senate to make the Fed Chairman a sympathetic figure. These pompous bozos think they are asking the tough questions but they are only grandstanding. Do you …
All posts in Stock Market Comments
Pre-market futures are up as fear and despair are replaced with momentary avarice. Whether we get a couple of hours or a couple of days of green remains to be seen. Given recent market days one would expect reality to set in with traders taking …
That was close……
The market was down from the opening bell but by noon it was stuck at S&P 704–708. Rally attempts were made all day but especially at 2:40pm and 3:40pm. Many were waiting and watching for 700 to be broken; next stop 687 or another 200 …
On the Cusp
The averages have remained in a narrow band for the last two hours. The Dow is down 240 to 6823 or 3.5%. The S&P is down 29 or 4% to 706. Should it break 700 in a decisive way we could have a hellish afternoon. …
Averages off their lows as S&P comes dangerously close to 700 at 708, off 3.5%. Could we get a bounce at 700? Oil off a whopping 10%. GE under $8/share. Tech made a run of it earlier but was overwhelmed. Sold my TWM inverse ETF …
World markets are all down 3%-4%. The Dow was off more than 150 points earlier; if it were to open now it would be down about 130 points. That would give the Dow a six handle and a significant psychological barrier broken. The latest saga …
Weekend Notes
Sign of the times? Three hundred thirty-three new lows yesterday and one new high. The stock? Sturm, Ruger (RGR), the country’s largest manufacturer of hand guns. Shares were up 3.5% on double the average volume. Purusing the list of new lows on Friday I was …
Bank Stock Capitulation
At least for Citi. When I looked at today’s volume for C I had to say it out loud. One-billion-eight-hundred-million shares. Of course, most of that traded below $1.50. Two years ago Citi was $50, a year ago $26 and today $1.40, down 40% on …
No good news. Sorry.
Zanax needed. There simply is no good news. Revenues, earnings, oil, GDP….all down, down. Oh, gold it up. Guess the only good part of this day is the flush. Stops that were set to protect equity owners will be triggered and that will lead to …
The bulls succumbed to the bears in the last hour with the last fifteen minutes ugly. The Russell 2000 was down almost 2% while the S&P 500 was off about 1.5%. The sell offs during the last few minutes are troubling. Are we headed here? …