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.
A surprisingly good show. The Dow was up only 62, less than 1% but the Russell and Transports advanced 2%+. The better showing of the mid-caps (Russell) is encouraging. The mid-caps will probably be the sweet spot if we are able to keep this going. …
As suggested yesterday….unless we got more enthusiasm the rally was going to sputter. At 10am the DOW was 9083 and it now hovers at 8980. Volume remains ho-hum and that makes it difficult to find bids. We need a catalyst. Gains have been significant in …
Today may turn out to a healthy decline. Market struggled most of day and swooned with President-Elect confirmed what most of us know: the economy stinks. But the President said it. Notwithstanding the Obaminator’s comments (as one of my sons fondly calls him) the market …
Market lower on low volume. The lack of volume is troubling. Individual company shares are going up as much as 5%++ a day on little volume. That cannot be sustained. Unless we get more enthusiasm this ramp is not sustainable. Copper stocks rolled over this …
SPY is the symbol of the largest ETF with assets over $93 billion. It is referred to as Spydee. This is the easiest way to capture the move of the S&P 500. SPY trades in massive volume, almost always the highest of the day. This …
Lest I become convinced of my forecasting ability. Early trading in Tokyo and Hong Kong show increases, up 2%+. despite these developing stories. From Janet Yallen today: “The financial and economic firestorm we face today poses a serious risk of an extended period of stagnation …