Fed Disappoints
Bernanke & Co. gave the market little in the way of new stimulus today, but I think that’s just temporary. Like a crack addict, the markets just want more and more and more, no matter what the consequences. QEIII should be coming and all eyes will be on Jackson Hole Wyoming later this month for the Fed’s annual retreat angd speech. The data are not strong, but they are certainly not falling off of a cliff. It’s just your typical […]
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Date: August 6, 2012
Break Up the Banks!
This morning on CNBC’s Squawk Box, Sandy Weill made a truly shocking remark. If you don’t know Sandy, he built Citi into the financial conglomerate it is today, putting together my old employer Shearson Lehman, Smith Barney, Primerica, Travelers and many, many more financial companies. Sandy was supposed to be the heir apparent at AMEX when Shearson was called Shearson/American Express, but massive egos got in the way in the roaring 1980s. One of the many causes of the 2007 […]
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Date: July 25, 2012
Market Getting Tired
Here is Monday’s segment we did on CNBC which remains our position today. http://video.cnbc.com/gallery/?video=3000103231&play=1 Stocks have been on a nice little run this week with a dearth of news out of Europe and generally better than expected earnings from bellwether companies. Keep in mind that the earnings “beats” are after Wall Street cut estimates over the past month and the general sentiment regarding earnings had become so negative that it should not be a surprise to see them bettered. This […]
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Date: July 20, 2012
Are Stocks Dead Money?
Here is the latest Street$marts: http://www.investfortomorrow.com/newsletter/CurrentStreet$marts20120712.pdf Besides offering an essentially sideways forecast, which has been our thesis for a month, we also throw in another unusual economic indicator along with an interesting story from someone on the younger side!
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Date: July 17, 2012
CNBC’s Closing Bell TODAY at 3pm est
I am going to be on CNBC’s Closing Bell with Bill and Maria at 3:00pm est today discussing the market’s path over the rest of the summer and how “quiet” it has become as earnings season really cranks up this week. Almost every article, tv segment and conversation about earnings has been so negative that it seems like much has been priced into the stock market. Could a small upside surprise lie ahead? This lack of significant volatility is typical […]
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Date: July 16, 2012
Quietly Strong Selling Wave
Stocks have quietly seen a fairly strong selling wave over the past eight days. Coincidentally (or not), that has been ever since the European Union announced their latest rescue attempt from European Stability Mechanism. After that one huge rally day, stocks have not behaved well and after today (Thursday), they have given back the entire rally. From my seat, the stock market is at an interesting juncture here. I wouldn’t say “critical”, but the bulls need to step up here […]
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Date: July 12, 2012
Markets Pricing in Weak Earnings
Earlier this week, I did an interview with Fox Business about the possible increase in taxes when the Bush/Obama tax cuts expire in December. Later in the segment, we discussed earnings season, which began this week with Alcoa, and how just one quarter off record earnings, investors are becoming so pessimistic. While it certainly feels like a negative year in the markets, the major indices remain in the black for 2012. In fact, the year is very closely following the typical […]
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Date: July 11, 2012
Stocks Slide on Tepid Jobs Growth Number
On Friday’s CNBC segment, I spoke about the range bound market with the potential for a fall swoon before the election. But in any market, there are always opportunities and this time is no different. http://video.cnbc.com/gallery/?video=3000101361&play=1 So far this week, stocks have not behaved well, but it’s far from a rout and the trading range continues. On Wednesday, we get a peak at the minutes from the Fed meeting and folks will take any scrap of comments that leads to […]
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Date: July 11, 2012
FOX Business TODAY at 1pm
I am going to be on FOX Business’ Markets Now today at 1pm est discussing the markets’ reaction to the weak employment data along with our forecast for the Dow to year-end. Stocks lost roughly 1% on Friday, but you would think the market collapsed from the media’s portrayal of the day. Listening to Mitt Romney, it sounds like we lost jobs and are heading into the abyss. President Obama on the other hand gave a campaign speech in Ohio […]
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Date: July 9, 2012
CNBC’s Closing Bell at 3:00pm TODAY
I am going to be on CNBC’s Closing Bell with Bill & Maria today at 3pm discussing the less than positive jobs report as well as the harsh market reaction and the potential response from Bernanke & Co. As soon as I finish wrapping up my quarterly report to clients, I will publish the next Street$marts with some comments on the European Central Bank’s recent action and what the Supreme Court’s ruling on ObamaCare means for the economy and markets. Have […]
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Date: July 6, 2012
