Ugliness & Carnage Continues… As Expected
The latest Street$marts has been posted. http://www.investfortomorrow.com/newsletter/CurrentStreet$marts20140203.pdf
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Date: February 5, 2014
Fox Business TODAY @ 1:05 PM
I am going to be on Fox Business’ Markets Now at 1:05 PM EST today, February 4, discussing the stock market’s plunge from the perspective of someone who forecasted it a month ago. Yesterday’s collapse was very broad based with 94% of the volume on the downside. That’s the second 90%+ downside volume day of the decline and while a little late, confirmed that the stock market is in a corrective phase. Sentiment has come way off the overly bullish […]
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Date: February 4, 2014
Battered, Bruised & Beaten Up
After that “thrilling” Super Bowl, the markets come back to work kind of like Peyton Manning, battered, bruised, beaten up and in need of some TLC. Unfortunately, any TLC seen in the stock market should only be temporary and lead to more selling and lower lows. I am starting to see some constructive things, but the market isn’t there yet. Downside targets are beginning to develop and the easiest one in the S&P 500 is the 1700 area, which represents […]
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Date: February 3, 2014
Super Bowl
For all of the 90’s whichever team I thought would win, usually lost. Of course, my own team the Dallas Cowboys won three times and I never wanted to jinx them by picking them! When the century turned and my team began to stink, my Super Bowl picking record improved dramatically. This year, I am very torn. My heart and family go to the class act of the NFL, Peyton Manning and the Denver Broncos. There are few stories as good […]
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Date: February 2, 2014
Canaries Quiet
Thanks to my friend and business colleague/partner Dave Moenning (stateofthemarkets.com) for the canary pic. It’s been a while since I last updated this column, but it’s not because I am lazy! There simply haven’t been enough changes in the data to warrant an update. The rally through year-end was very powerful and almost all areas we in gear to the upside. And even today, while there may be a few warnings, we don’t have bull market ending conditions in place. […]
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Date: February 1, 2014
Snap Back
Stocks are opening sharply higher after Wednesday’s drubbing. We have not seen the ultimate low for a good rally. That looks to come in February. This little rally should be more than a one day wonder, but if it somehow fizzles out and closes in the red today, look out below! I think you could see one of those trap door, elevator shaft declines that forces a mini panic. I don’t think that scenario plays out, but it’s something to […]
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Date: January 30, 2014
Bernanke’s Swan Song at Interesting Crossroad
On Monday, I discussed how a very short-term rally was close at hand. I continued that yesterday morning about the prospects for a Turnaround Tuesday rally. The bulls came back to work on Tuesday in a very underwhelming way. The open was without conviction. Volume was anemic, further solidifying my stance that the market isn’t close to a low of any significance. With Apple’s disaster, stocks had a chance for a big gap down and short-term washout. But that wasn’t […]
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Date: January 29, 2014
Turnaround Tuesday
The carnage continued yet again on Monday, spilling over from Friday’s sharp decline. If you turned on the TV, you would have thought stocks are down double digits and in free fall the way the pundits are talking about this little decline. But you know better. Since the first of the year when the market started losing the positive calendar tailwind, I have been discussing a scenario for a routine and healthy bull market pullback of 5-10%. That’s where we […]
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Date: January 28, 2014
Stock Market in Tailspin but Bull Market Lives In
The latest Street$marts has been posted. http://www.investfortomorrow.com/newsletter/CurrentStreet$marts20140124.pdf
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Date: January 27, 2014
Very Short-Term Bounce on the Way
Stocks closed last week on a very ugly note with an across the board rout after underwhelming earnings and continued problems in the emerging markets. This is exactly the type of decline I spoke about for the past few weeks. All of the necessary ingredients were there and price finally succumbed. Friday was so ugly that it can actually be construed as okay in the very, very short-term. Days like that either lead to higher openings on Monday to relieve […]
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Date: January 27, 2014
