On Friday we had the Dow Industrials, S&P 500 and NASDAQ 100 all at new highs. The S&P 400 and Russell 2000 were absent. It just didn’t seem like a celebratory day. Perhaps, it was because the rising tide is not lifting all ships as I mentioned on Thursday. But the market is also not showing stress on the credit side either. Looking below at the high yield bond ETF, you can see that it is just a few pennies […]
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The stock market is looking lower in pre-market as comments about the Fed beginning to taper their $120 billion a month bond purchases as well as added regulations in China are worrying people. First of all, it’s clinically insane that the Fed is still buying $40 billion of mortgage backed bonds each month when the housing market is white hot all over the country. Why on earth does it need support? When I woke up this morning I heard one […]
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I hope you had a safe and enjoyable Independence Day long weekend! While Mother Nature certainly did not cooperate in New England, it is still always great to celebrate America’s birthday and all she has stood for. Lots of interesting stats to post so let’s jump right in. The other day I wrote about the euphoric IPO market and some things investors should consider before jumping in. Today, I want to discuss a bunch of really cool stats about July […]
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June, Q2 and the first half of 2021 are in the books. Boy, as slow as 2020 went, 2021 is racing along. And this is with the markets really cooperating. I wish everything would slow down. I have so much to cover, but not enough time today so I am just going to offer some timely comments about the new offering market. FYI, I did a fun and educational interview on TD Ameritrade Network yesterday on this very topic along […]
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It’s the last day of the month, quarter and first half of the year. Certainly, do not be surprised to see some portfolio games being played although the markets have been super quiet this month. A week ago I wrote about the strong trend for small caps to outperform large caps through today. As you can see below which is a line of the S&P 500 divided by the Russell 2000, that trend has not played out this year. It […]
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The stock market begins the last week of June with the bulls mildly in control. Don’t forget we have end of month and quarter this week along with many people beginning vacations. I won’t be among them although I do wish them a safe and enjoyable vacation. It has been a fun Q2 and great start to 2021 as the halfway mark approaches. As I have written for a while, I do not sense that the stock market is about […]
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It has been a good week for the bulls! After four straight days of red ending last week, the bulls stepped up exactly when they should have. While I would have preferred a weaker opening on Monday the market doesn’t always cooperate perfectly. But this time, it was fairly easy to forecast higher prices, especially when Jim Cramer was imploring and begging people not to buy for another week, meaning today, after a big up week. Today, I am a […]
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The four straight days of decline where Jim Cramer implored people not to buy on day four have quietly passed. Don’t get me wrong. I am not saying the stock market can’t pull back here, but after four straight days of weakness in a bull market, the odds heavily favor at least a bounce. We got that bounce. That’s why Cramer is paid to be a commentator and entertainer and not a money manager. It’s not a knock. It’s just […]
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The stock market has now closed lower for four straight days and three consecutive post-Fed meeting. The pullback has been healthy and relatively modest, so far. On Friday we saw one of the big, quarterly options and futures expirations which usually see prices rally into the day and selloff post. That didn’t happen. Many people are focused on the negative seasonal trend post-June expiration. However, most people are lazy and do not dig beneath the surface. I am not saying […]
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I lost track of how many times in 32 years I have said, “it’s not what the news is, but how markets react”. On Wednesday the Federal Reserve concluded their two-day meeting. As I wrote about, the Fed did nothing and said nothing. Everything was as expected. That led to an initial reaction that Powell & Company were more hawkish, meaning more skewed towards tightening policy. Stocks sold off. Bonds sold off. Gold sold off. The dollar rallied. One day […]
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