After a disastrous month of January; which would have been far worse had Friday’s massive rally not taken place; the month of February got off to a flat start. It is worth noting, though, that yesterday, the stock market opened lower and rallied back into positive territory before finishing mixed. This week will be another […]
For the second consecutive day, China devalued its currency. Alibaba (BABA) the Chinese retail monolith reported results. Despite exceeding analysts estimates by 1 cent and announcing a $4 billion share buyback, investors were disappointed by the company’s revenue growth rate. As a result, traders sold the stock off rather hard. You have to understand that […]
Did I mention that it was August? I believe so. It is the month of beaches, boating, golf, Saratoga and the unexpected. In August we have seen: the Invasion of Kuwait (1990), the Russian Coup D’etat (1991), Russian Financial Crisis (1997) and US Government debt downgrade (2011), as examples of the unexpected. These exogenous […]
Wells Fargo (WFC) and JP Morgan (JPM) set the tone and absent any negative news from Europe the markets put in a solid session. The Standard & Poor’s 500 (SPX) rose for a fourth consecutive day and is higher by 3% from last week’s Grexit anxiety lows. It now stands 1.22% away from its all-time high. […]
Yesterday I advocated being invested in technology and the tech heavy Nasdaq 100 (NDX). Today I will reiterate my call to commit capital to Chinese Internet Stocks, the New Four Horsemen of the NASDAQ.That was of course also in preparation for the Alibaba (BABA) IPO. Today is Singles Day in China while it is Veterans […]
When I last wrote My Gut feeling, I mentioned an anecdotal observation that the market always seem to have a poor day when my friends Mitch and Martin come to the Adirondacks for a few days of excitement at Saratoga. Well, true to form, the markets took a bath on Thursday, which as it turns […]
Friday was not pretty. It was the markets’ version of reverse peristalsis. It happens every occasionally. This time around, the causal stimulus was emerging markets anxiety. As I mentioned on Friday morning, it was a time for caution, but not panic. Unless you were 100% in cash before the day began, Mr. Market took its […]
Apple (AAPL), Freeport McMoRan Copper and Gold (FCX)The markets bent but did not break yesterday. The Standard & Poor’s 500 (SPX) at its worst declined over 24 points or 1.34%, only to close off 16.4 points or 0.89%. Initially the raison d’etre for the selloff was attributed to earnings and economic data. However, problems in the emerging markets are beginning to bubble […]
McDonalds (MCD), S&P 500 (SPX)What I considered to be the 6th day of the elongated holiday weekend was about as exciting as watching snow melt, which I can assure you was not occurring around here. The Standard & Poor’s 500 (SPX) traded in a six point range or about 1/3%. Historically, the average daily range is close to 1.5% […]
Buffalo Wild Wings (BWLD), Five Below (FIVE), General Motors (GM), McDonalds (MCD), Microsoft (MSFT), S&P 500 (SPX)