August is usually a quiet month, except when some exogenous event occurs. This August however, people were trying to create exogenous events. Frankly, this is disconcerting to me and many market professionals. On August 14, the equity markets took a steep dive – about 3% – when the yield curve on the short end briefly […]
There is no doubt that the recent two-month correction has been quite painful for investors. Every correction has its own unique “explanation” for the decline. Not only does it vary, but it is unpredictable. This time around there appears to be several theories for the decline. One theory I have already discussed, is that of […]
Congress came to an agreement over a short-term spending bill, ending a three-day vacation for the Federal Government. The markets responded by rising to all-time highs, putting last week’s intraday negative turnaround in the rearview mirror. As I hypothesized that was all due to fear of a government shutdown. Remove the fear and the markets reverted […]
Welcome from the Contemporary Resort at Disney World (DIS) in Orlando, Florida where I am speaking at the Money Show this week. Last night, in celebration of the Money Show’s 35th anniversary, we attended a special dinner with guest speaker, Larry Kudlow. Many of you know that I was regularly on the old Kudlow & Cramer […]
On Thursday the markets put in a nice turnaround session. What we needed was follow through on Friday but alas that would not be provided to the markets. It was the same old culprits – China weakness, falling crude oil prices, fear of Fed and the strong US Dollar – which caused the downdraft. Intel […]
The markets closed out August with yet another losing session. There was a midday attempt to rally stocks but what looked like, at least to me, overseas selling in the more liquid US markets, repelled any rally attempt. So we clock out August with a decline of 6.26% for the S&P 500 (SPX). It is […]
Tuesday’s one-day blunder gave investors the opportunity to snatch up stocks at a discount, which they did. On Thursday the market resumed its recent slow motion flat lining action. Perhaps, traders were taking a day off before today’s busy economic calendar. Before the market opens, the second stab at 1st quarter GDP and the Chicago […]
A slew of economic releases indicated that the economy and housing are gaining strength. This resulted in the US Dollar rising, bonds falling in price and rising in yield and stocks getting sold for fear of the FOMC increasing interest rates. It was classic good news being interpreted as bad news session. It was also, […]
While the Apple (AAPL) World Wide Developers Conference was a well-orchestrated and quite amusing performance, it was as intended, a method by which Apple could present its new operating system to developers. To the extent that new whiz bang consumer products were not introduced, it may have disappointed some market watchers, but in the final […]
Yesterday’s market delivered us that day of rest that I anticipated would occur after the strong rally in stocks. There was really not much we could read into the action. Also, the market was marking time ahead of today’s 1st quarter Gross Domestic Product (GDP) report. I used the wishy washy action to raise a […]
