Much Ado About Nothing from Yellen & Fed Today
My how time flies… It’s Fed decision day again with Janet Yellen set to announce another $10 billion cut from bond purchases, keeping the FOMC on pace to wind down QE Unlimited later this year. After the 2pm announcement, Ms. Yellen will head over to the always entertaining (NOT) press conference. One thing I am sure of is that the Fed chair will not commit another rookie, foot in mouth, Joe Biden esque’ gaffe by committing to a specific timeline […]
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Date: June 18, 2014
Short-Term Pullback Continues
Stocks head in to the new week with the bears in control over the very short-term. That’s it. Not the intermediate-term and certainly not the long-term. The major indices peaked last Monday and look like they are digesting the recent gains in very orderly fashion. More all time highs should follow when this pullback concludes. The next rally is the one I would pay particularly close attention to, especially in the small caps. The Russell 2000 is SUPPOSED to hit […]
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Date: June 16, 2014
Refuting the Bears
Bears will point to overly bullish sentiment readings and anemic volume as reasons to be wary of “The Big One” or bull market ending. They are absolutely correct regarding the sentiment surveys, but this story has been seen before. And sentiment is almost always much frothier than the high positive readings of today. Sometimes, a correction unfolds while other times the market enters a trading range. And in outlier cases, every once in a long while, stocks begin to melt […]
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Date: June 13, 2014
Russell Trying to Join Party
Over the past few months I have often warned about the caution signs being given by the major stock market indices not all being in sync together. With 32 months passing since the last 10%+ correction, the bearish camp is hoping that age alone will befall this market. History suggests otherwise. Historically, major index non confirmation or divergence is typically a sign of a market about to correct or in the most extreme cases, the end of a bull market. […]
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Date: June 12, 2014
Early Equals Wrong
The bull market of 2009-2014 has to be one of the most disavowed, unloved bull markets of all time. Each and every time it sees even routine weakness, bears come out of the woodwork with calls of 1929, 1987 and 2007 all over again. And then stocks stop declining and continue on their merry way higher. This is exactly how long-term bull markets survive, thrive and work higher. I can’t tell you how many very smart (and some not so […]
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Date: June 11, 2014
What’s Up with That?!?!
Last week, there were at least three announcements that made me scratch my head and think “are you serious?” Apple spent $3 billion to buy Beats, a headphone maker which sells inferior products as my experts tell me. Good job Beats! Steve Ballmer paid $2 billion for the embattled L.A. Clippers. My best friend whose group recently purchased the Milwaukee Bucks for a record $550 million also bid on the Clippers and valued the franchise at well under $1 billion. […]
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Date: June 10, 2014
Draghi Delivers… Bears Lie in Wait
In one of the better telegraphed moves out of the European Central Bank, Mario Draghi & Company gave the market what it had been expecting, using some fairly heavy ammunition to provide stimulus to Europe’s struggling economy. He may not have gone to Hank Paulson’s bazooka just yet, but they are getting close! Thursday was a solid win for the bulls as the Dow, S&P 500, S&P 400 and Nasdaq 100 all scored new highs for 2014 with the lagging […]
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Date: June 6, 2014
Bears Get Another Opportunity
On the Bullish Side It has been a relentless 10 day assault by the bulls with the Dow, S&P 500 and Nasdaq 100 scoring new highs while the S&P 400 and Russell 2000 are fighting to lead. Europe remains near new highs and emerging markets have had a very strong run, much to my delight! The New York Stock Exchange Advance/Decline line continues to see all time highs which has very positive intermediate-term implications for stocks as it is an […]
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Date: June 4, 2014
Squawk Box on Monday @ 6:30 am EDT
I am really excited and looking forward to being with Joe, Becky and Andrew on CNBC’s Squawk Box on Monday the 2nd @ 6:30am discussing the stock market’s latest surge on negative news. It should be a spirited discussion!
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Date: June 1, 2014
Bulls Hangin’ Tough
With the bearish seasonal headwinds this week, the bulls have done a nice job not giving up any ground so far. In fact, the bulls powered ahead on Tuesday and held firm on Wednesday. It certainly looks like the Dow and Nasdaq 100 want to join the S&P 500 at new highs this week. Although the S&P 400 and Russell 2000 have been laggards, they have certainly led the parade over the past week. The real news so far this […]
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Date: May 28, 2014
