Oversold and Looking to Bounce
Stocks continue to feel the hangover from the post Fed no taper party as well as Larry Summers stepping aside. While the Russell 2000 Index of small caps briefly saw all time highs today, the other major indices remain in pull back mode. This all seems very healthy and routine and I would expect another leg higher in the bull market after this period of weakness ends over the coming 2-7 weeks. In the very short-term, stocks are oversold and are supposed […]
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Date: September 25, 2013
Dow Jones Shakes Up Industrial Average
Last week, Dow Jones, the keeper of the popular stock market indices Dow Jones Industrials, Transportation and Utilities, had a major shake up in their most widely watched Industrial Average. Being thrown out are Alcoa, Bank of America and Hewlett Packard. On the other hand, Goldman Sachs, Nike and Visa are coming on board. On the surface, this makes all the sense in the world as Alcoa has been a stodgy old aluminum company while B of A and Hewlett are […]
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Date: September 23, 2013
Bernanke’s Worry Lines & CNBC’s Closing Bell
I will on CNBC’s Closing Bell today, Friday, at 4:00pm discussing the lack of any taper from the Fed, what they see that the masses don’t and where the markets are ahead. Earlier this week in Street$marts (click on link to see) and on my blog, www.investfortomorrowblog.com I spelled out the three scenarios that could result from the Fed meeting. While I did not believe any taper was warranted, the market was expecting a token $10-$15 billion. When Bernanke & Company did nothing, risk […]
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Date: September 20, 2013
Taper Talk
Why does it seem like every single Fed meeting has become “the single most important FOMC meeting ever” in the media? And here we are again. The Fed begins a two day meeting tomorrow and it is widely expected that they will announce the first of many subsequent tapers at either this meeting or the one in November. The only surprise will be if they remove any kind of taper talk from their announcement or commentary. Although I do not agree with tapering […]
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Date: September 18, 2013
Adios Larry Summers
What a pleasant surprise when I walked in the door from my daughter’s softball game and saw that Larry Summers had withdrawn his name from consideration to succeed Ben Bernanke. It’s not a new topic here nor in my commentary in the media that I thought Summers was the wrong person at the wrong time for the job. The man doesn’t play well in the sandbox with others and stuck his feet in his mouth regarding women when he was president of Harvard. […]
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Date: September 16, 2013
Remembering 9-11
Today, we remember the horrific and cowardly events of September 11, 2001. I was not alive when JFK was assassinated or when Pearl Harbor was attacked, but those who were often speak about where they were or what they were doing at that moment. I remember sitting in my office watching CNBC. They had Breaking News that a plane flew into one of the towers at the World Trade Center. My first reaction was a skeptical one. I didn’t see any […]
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Date: September 11, 2013
Bull Market Run to Continue
Stocks have a done a good job over the past few weeks of shrugging off the events in Syria, the uncertainty at the Fed and the less than stellar economic news. It doesn’t “feel” like the two month consolidation is over and Dow 16,000 is right around the corner, but we will let the market tell us. I do continue to believe that more all time highs are ahead in the fourth quarter and into 2014. Here is my most […]
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Date: September 10, 2013
Fox Business’ Markets Now
I am going to be on Fox Business’ Markets Now on Monday August 26 at 1:00pm. The stock market began a small bounce last week and looks to continue that move this week. Yes, it’s the unofficial last week of summer although many schools have already started and many more begin on the 26th. Volume is typically light this week, but when a geopolitical event occurs like we saw in 2011, 2010, 2008 and 2007, volume will certainly spike. I […]
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Date: August 26, 2013
Big Correction Coming?
Stocks continue to trade very heavy, but we should be on guard for a strong bounce at any time here. I think the top is in for a while so bounces are now selling opps and a better buy point should be seen after Labor Day. To reiterate what I have said for a while, this pullback should not be the beginning of a new bear market, just another healthy cleanse in an aging bull market. Here is the segment […]
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Date: August 20, 2013
Bull Market to Live On
The stock market continued digesting gains seen from the June 24 to mid July rally. So far, the consolidation has been constructive with the Dow Jones Industrials being the weakest index of the majors. Over the very short-term, the major indices should see a bounce but not exceed the all time highs seen in July. It’s too early to tell whether this will end up being an intermediate-term decline lasting well into September or short lived. One clue will be […]
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Date: August 16, 2013
