Hurricane Update Part II
First and foremost, I hope those of you in harm’s way made it through the storm okay and your lives are beginning to get back to some sense of normalcy. The New York Stock Exchange is scheduled to open at its normal time, 9:30am edt on Wednesday. That’s beyond incredible given the state of devastation in Manhattan, but especially lower Manhattan. I expect the commodities and bond markets to open as usual as well. But I think we all know […]
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Date: October 31, 2012
Hurricane Update
As you may already know, the financial markets are closed today and are expected to remain closed through Tuesday. The office is officially closed, but I will be shuttling between the office and home as power allows. The best mode to communicate is via email. We have several internet providers and while we expect to have at least one always functional, it can never be guaranteed. If the storm is worse than expected locally we will operate from a satellite location […]
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Date: October 31, 2012
Are the Bulls Ready to Resume Control?
After Friday’s carnage, the bulls fought off early weakness and pushed stocks to close at their highs around the flat level. Is the decline over? Anything is possible, but I continue to see more downside ahead with all major indices breaking their recent lows. A pre-election low remains in the cards and that would really catch folks off guard!
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Date: October 23, 2012
25 Years Ago…
I remember calling my parents from college when I heard the stock market had crashed 22.6% in a single day. My father had literally just opened another brokerage firm and even I knew this wouldn’t be good. I remember him telling me that it was the BEST time to open a new firm since they hadn’t brought clients over and built their book up yet. So not many folks were unhappy! I remember a buddy of mine who traded for a […]
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Date: October 23, 2012
Separating the Election Nonsense from Reality
Here is the latest Street$marts: http://www.investfortomorrow.com/newsletter/CurrentStreet$marts20121015.pdf
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Date: October 17, 2012
New Highs Now or More Weakness First?
In the last Street$marts, I opined that the stock market should see at least another new 2012 high this year, but that we were long overdue for a pullback and a 2-8% decline should begin shortly. So far, all we have seen has been a 3% decline and many folks wonder if new highs are next. I think the healthiest thing would be for stocks to decline below the levels we saw last week and then mount an assault higher. That […]
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Date: October 17, 2012
I Guess Yelling is OK
It’s not often that I am part of an interview where guests yell and I do to! Here is the video from the CNBC segment the other day on the Fed’s QE Unlimited. The next Street$marts will be out shortly with a long article on the Fed, ECB and BoJ’s money printing experiments. http://video.cnbc.com/gallery/?video=3000119593&play=1
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Date: October 3, 2012
CNBC’s Closing Bell at 3pm Today
Going to be on CNBC’s Closing Bell today at 3pm discussing our market outlook for the 4th and final quarter of 2012 along with some comments on Ben Bernanke’s “big” speech earlier today. We will have an extended article out this week on the Fed’s QE Unlimited and what it all means and if you should even care.
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Date: October 1, 2012
Sell Rosh Hashanah Buy Yom Kippur
Each year at this time, people ask, “Is it sell Rosh Hashanah or buy it?” The adage is definitely to sell Rosh Hashanah and buy Yom Kippur, which was derived many decades ago when Jews on Wall Street would sell their stocks before the High Holy Days began, not work over the holidays and then come back to work and buy. And even though, that trend has diminished over the years, there remains a negative bias. This year, it’s September […]
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Date: September 20, 2012
BOOM Goes the Fed Dynamite
Ben Bernanke & Co. delivered QE3 yesterday by announcing a plan to purchase mortgage backed securities (mortgages) for at least the next two months at roughly $40 billion per month. And the markets were delighted! The best analogy I can offer is that the markets are like crack addicts now and need their steady and regular fix of stimulus. As time goes on, a drug addict usually needs more and more drugs and that’s exactly how the markets are behaving. […]
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Date: September 20, 2012
