Junk Bonds Say Full Steam Ahead
It’s been a fairly quiet few days for stocks after the better than expected employment numbers were released on Friday. The economy created 196,000 new jobs versus the 175,000 expected. As I wrote about then, I was expecting a strong number with a sharply higher revised number for February. While the former happened, the latter certainly didn’t as February was only revised higher from 20,000 to 33,000. There’s nothing wrong the major indices. All looks fine. The four key sectors […]
Read More
Date: April 9, 2019
Jobs Friday
Today, we have what is always labeled as the “all important” monthly jobs report. Frankly, given the Fed’s recent 170 degree turn, I don’t think it’s that vital unless the data either completely fall off a cliff or completely spike. Both are unlikely. After February’s unexpectedly weak report, I said that I fully expect a sharp revision higher when March’s report is released in early April as well as a decent report for March. I still feel that is the […]
Read More
Date: April 5, 2019
Lyft a Bust??? Stocks Soar & Roar
Last week, we ended with the hottest and most anticipated IPO in a very long time. It was one that caused me to dust off my HOT IPO Roadmap and tell you to run for the hills. Lyft came public to all the glory and hoopla of a Ringling Brother circus. And certainly not to my surprise, it fell flat on its face after running above $88. Last I checked, it was sub $70. The pundits were chastising Uber for […]
Read More
Date: April 2, 2019
Hot IPO, LYFT, Coming Out. Time to Buy?
“Hot” IPOs like Alibaba, Twitter and Facebook are usually very emotional, much anticipated and huge financial media events. Investors clamor for these stocks, usually throwing caution to the wind as fundamentals are trampled by greed. The media are usually camped out at the NYSE or NASDAQ with minute by minute updates as to where the stock may open. As I have discussed over and over, emotion in investing can have a very detrimental impact on your portfolio! That’s one of […]
Read More
Date: March 29, 2019
Stocks Pause, Bonds Yields Collapse
Greetings from Baltimore with some absolutely beautiful spring weather waiting for me! I knew my day would be great on Tuesday when I arrived at the airport and saw not a soul around. From the time I dropped my car off at 7am to the time they closed the boarding door at 7:30am to the time I landed and picked up my rental car at 9:15am, every minute was a pleasure! And my day only got better from there as […]
Read More
Date: March 27, 2019
Boeing, Mueller and Yield Curve, OH MY!
A week ago, I started off my writing that a stronger seasonal headwind was in play for the week, but I didn’t think it would be a significant decline. Stocks did pause overall, pulling back about 1% although it certainly did feel like there was more to it, especially if you watched the various headlines come across with Boeing and the Mueller investigation, BREXIT and the yield curve once again. For a stock market that has risen almost vertically since […]
Read More
Date: March 25, 2019
The Most Unanticipated FOMC Meeting
The Most Unanticipated FOMC Meeting Today is one of the most unanticipated Fed statement days in recent memory. How will we ever survive without hearing that “today is the most important Fed day ever”? I say that because absolutely nothing is really expected today. Chairman Jay Powell did his 170 degree turn earlier this year and the Fed is now on a new course. Okay. Maybe, I am exaggerating a little bit. Perhaps, we will hear about their plans to […]
Read More
Date: March 20, 2019
Strong Sector Leadership. Seasonal Headwind This Week.
As I wrote about last week, stocks ended their deepest and longest pullback since the Christmas bottom. And that was all of 3% and 5 days. Not much for the bears to hang their hopes on. I also commented that I wanted to see which sectors led out of that pullback since it was unlikely that the rising tide would continue to lift all ships. Since the March 8th low, the bulls should be proud that it’s been a “risk […]
Read More
Date: March 18, 2019
If At First You Don’t Succeed…
On Wednesday, the bulls tried to break stocks above what pundits are calling the “key” line in the sand. This was the fourth such attempt in the past three weeks. As I mentioned before the first try almost always fails and the second is usually a little more emotional. After that, one of the attempts usually sticks. You can see this on the chart below. Today, is that fourth attempt and we will see where the bulls end up. Given […]
Read More
Date: March 15, 2019
Once Again, the Bears Get Left Behind, Waiting, Hoping & Praying
Greetings from LA! Hopefully, this is the final day of a long, three city trip. I always debate compressing my trips into fewer ones so I can get a lot accomplished with less flying. In today’s case, this massive winter storm will likely result in my flight being canceled to Denver. So, my fingers and toes are crossed that I can get back to CT tonight and not have to deal with the masses tomorrow. Last Friday, I wrote about […]
Read More
Date: March 13, 2019
