Historic Greed. Media Day & Stock Picks
I am excited to co-host Yahoo Finance’s On The Move from 11:30am to 1:00pm today talking about the DNC’s debate last night, an historic level of greed in the stock market, NFL playoffs and a reveal of an upcoming ebook I am writing. After that, I get to join my old friend, Charles Payne, on Fox Business’ Making Money at 2:00pm for a segment discussing the meteoric rise in stocks and where to put your money. Yesterday from the office, […]
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Date: February 20, 2020
January Barometer – Another Indicator to Debunk or Not
During the end of January to early February each year, there is an annual discussion regarding the January Barometer, another indicator which supposedly has a great track record of predicting the return for the calendar year. This indicator was created and made popular by Yale Hirsch, founder of the Stock Trader’s Almanac. Basically, it says that as January goes, so goes the calendar year. Simple enough, right? The Almanac claims a “success rate” in excess of 80% which seems pretty […]
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Date: February 12, 2020
Bulls Running. All Not Great. Dollar Surges w/ Silent Media
After stocks peaked a few weeks ago and the Coronavirus was blamed, I talked about a trading range setting in as one of my three scenarios. That scenario was the most middle of the road. With the S&P 500 and NASDAQ 100 scoring new highs, the most immediate negative scenario has been ruled out. We are left with whether stocks will pause and remain in the loose range or accelerate to the upside and run higher. There is clearly an […]
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Date: February 11, 2020
I Didn’t See That Coming
While I was looking for the stock market to begin the bottoming process on Monday, I definitely did not think that stocks would literally rip to new highs in three days. That was a much less likely scenario and one that would bother me. To be exact here, the NASDAQ 100 is at new highs with the S&P 500 right there. The Dow, S&P 400 and Russell 2000 are not. We will see where they end up at week’s end. […]
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Date: February 5, 2020
Not Looking Like a Full-Fledged Correction
On the surface Friday looked like one of the those “puke” days when anything and everything go down. It was an ugly day, but I didn’t see evidence of investors in full panic mode nor selling at any price just to get out and relieve the pain. Friday looked like the makings of an internal or momentum low where selling and would be at its worst for this decline. Of course, one day later, it’s only a guess until there […]
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Date: February 3, 2020
Trading Range Being Established
As I have been discussing, the stock was longing for a reason to decline and it seems to have found it in Coronavirus. Whether it was that or something else, stocks were much in need of a pullback. As you know, sentiment had reached the frothiest of frothy levels, but the foundation remained solid. That usually leads to your garden variety short, sharp pullback, to at least get sentiment back to neutral. I don’t think we have the set up […]
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Date: January 31, 2020
Media Day, Fed, Coronavirus & More Today
I am excited to join Yahoo Finance’s On The Move from 10:20am to 10:30am discussing the Coronavirus’ impact on the markets and if the worst is behind the markets. After that, the TD Ameritrade Network is next to give a market update and offer some stock picks. I have to admit; it’s been tough to find fresh ideas after such a strong rally since October. I keep waiting and waiting for the traditional energy names to set up, but that’s […]
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Date: January 29, 2020
The Excuse to Go Down
Last Friday, after what seemed like Coronavirus avoidance, stocks reversed sharply to the downside. Been there before. Got a tee shirt. One day patterns look amazing on a chart when they work, but foolish when they don’t. Today, it looks like we will see a nasty down opening which most are blaming on the spread of the virus over the weekend although some have wrongly opined that this is all about Bernie Sanders’ rise in Iowa. That’s just nonsense. Markets […]
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Date: January 27, 2020
Bulls Ignoring Corona et al
Good Friday Morning! Sorry I have been AWOL this week. Between the holiday on Monday and being in Boston on Wednesday, my schedule has been jam packed. Amazingly, with full on impeachment and the Coronovirus, stocks did not even hiccup this week. And that’s still with an historic level of greedy sentiment that just keeps on getting more extreme. One thing is for sure and that’s something I have said forever; price is the final arbiter. That means that nothing […]
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Date: January 24, 2020
Investor Behavior is now Very Dangerous
It seems like every single day stocks up higher, pullback and then rally into the close. It’s been one of those truly historic runs since December 3 where you would be hard-pressed to find any weakness. Those heavily invested are just sitting back, enjoying the gains and smiling. Those on the outside looking in are very frustrated and anxious to buy any discernible pullback at all. While we mark all of our strategies on a daily basis, I rarely give […]
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Date: January 17, 2020
