Fox Business TODAY at 1pm est
I am scheduled to be on Fox Business’ Markets Now at 1pm today, assuming Mother Nature doesn’t throw a monkey wrench into those plans. We will be discussing how far the current stock marker rally can go along with my annual forecast for 2013. Street$marts subscribers should be receiving the annual forecast issue shortly, but nothing has changed over the past few months in our work. All time highs are on the way for the Dow and S&P 500 and […]
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Date: January 28, 2013
Santa Claus Rally
If Santa Claus should fail to call, bears may come to Broad and Wall. That’s an old stock market adage indicating that if we do not see the traditional Santa Claus rally over the final five trading days of the year, the potential for a bear market or major decline increases in the New Year. The final five days clocks at the close on the 21st, coinciding with the end of the world according to the Mayans. There is also […]
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Date: December 19, 2012
Bulls Turn Tide
After Friday’s reversal from early losses on the “news” regarding the Fiscal Cliff, the bulls put on an ole fashioned stampede today with more than 90% of the volume on the upside and almost 90% of all stocks closing higher. The market opened up and ran that way straight to the close, turning the short-term trend in favor of the bulls. For the time being, the bulls have the ball and given the Thanksgiving holiday, they are supposed to keep […]
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Date: November 20, 2012
Bulls Draw Line in the Sand
It certainly took a while, but the bulls finally drew a line in the sand and defended their turf after a 9% pullback from the September peak. The day started out like many others during the decline with weakness to new lows. But after the “geniuses” in congress held a press conference and all agreed to compromise (Gee, what a word!), stocks lifted and ran higher into the close as monthly options expiration and short covering ahead of the weekend […]
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Date: November 19, 2012
Obama Victory, Market Sell Off
Congratulations to President Barack Obama and all of the politicians who were elected by the American people last night. In the end, although my candidate did not win, Democracy was and is always the big winner. As you know, I hardly ever use the word “hope” when discussing investing, but in this case, I do hope we somehow see congress and the president at least genuinely attempt to work together on a bipartisan basis. I don’t know a single person who […]
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Date: November 7, 2012
Are the Bulls Ready to Resume Control?
After Friday’s carnage, the bulls fought off early weakness and pushed stocks to close at their highs around the flat level. Is the decline over? Anything is possible, but I continue to see more downside ahead with all major indices breaking their recent lows. A pre-election low remains in the cards and that would really catch folks off guard!
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Date: October 23, 2012
25 Years Ago…
I remember calling my parents from college when I heard the stock market had crashed 22.6% in a single day. My father had literally just opened another brokerage firm and even I knew this wouldn’t be good. I remember him telling me that it was the BEST time to open a new firm since they hadn’t brought clients over and built their book up yet. So not many folks were unhappy! I remember a buddy of mine who traded for a […]
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Date: October 23, 2012
New Highs Now or More Weakness First?
In the last Street$marts, I opined that the stock market should see at least another new 2012 high this year, but that we were long overdue for a pullback and a 2-8% decline should begin shortly. So far, all we have seen has been a 3% decline and many folks wonder if new highs are next. I think the healthiest thing would be for stocks to decline below the levels we saw last week and then mount an assault higher. That […]
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Date: October 17, 2012
Sell Rosh Hashanah Buy Yom Kippur
Each year at this time, people ask, “Is it sell Rosh Hashanah or buy it?” The adage is definitely to sell Rosh Hashanah and buy Yom Kippur, which was derived many decades ago when Jews on Wall Street would sell their stocks before the High Holy Days began, not work over the holidays and then come back to work and buy. And even though, that trend has diminished over the years, there remains a negative bias. This year, it’s September […]
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Date: September 20, 2012
BOOM Goes the Fed Dynamite
Ben Bernanke & Co. delivered QE3 yesterday by announcing a plan to purchase mortgage backed securities (mortgages) for at least the next two months at roughly $40 billion per month. And the markets were delighted! The best analogy I can offer is that the markets are like crack addicts now and need their steady and regular fix of stimulus. As time goes on, a drug addict usually needs more and more drugs and that’s exactly how the markets are behaving. […]
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Date: September 20, 2012
