Time to Be Careful
Before I dive in, let me be very clear, I remain bullish over most time frames. Nothing has changed. Five straight closes above 18,000 as I spelled out on CNBC last week and many times over the past six months may create a slingshot to 20,000 this year. The bull market is old and wrinkly but not dead. Same old lines from me. The headline about being “careful” is more about the short-term and because stocks just broke out to […]
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Date: February 18, 2015
Bears Pulling a Pete Carroll?
The bears began Monday’s trading with the ball, seemingly just needing to breach the lows to force a wave of technical selling. It shouldn’t have been that difficult. After multiple intra-day reversals by the bulls stocks ended sharply higher on decent internals. While that all looks very nice and neat on a chart, I would have still preferred to see a clear breach of all recent key lows by at least the majority of the major indices. All we saw […]
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Date: February 3, 2015
Stock Market Groping for a Low
If you woke up this morning, turned on the computer or TV and saw another Texas healthcare worker with Ebola, European markets under siege yet again and our own stock market futures in collapse, you probably did not feel so great. Anxiety? Panic? As the morning progressed and our stock market opened, your saw an immediate mini panic with the Dow down 370. At the same time, the 10 year treasury note’s yield absolutely and totally collapsed under 2%. That […]
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Date: October 15, 2014
BOOM! Now High Yield is Key
What a great day in the city on Wednesday! I knew I was okay when Metro North actually ran on time to start the day. I did two segments with the good folks at Yahoo Finance, one discussing the most overused word in investing, “bubble”, and the other on the current state of the bull market. As they are posted I will share the links. I headed to the floor of the NYSE in the afternoon for a quick stint […]
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Date: October 9, 2014
Big Ben Pours Cold Water on Bulls
The stock market saw a very dramatic and emotional reversal today as fresh all time highs were seen in the morning followed by a vicious selling wave from the highs until 3:30. The hardest hit sectors all focused on dividends that would become less attractive if interest rates rose. Utilities, telecom, REITs and financials. Pundits were quick to compare today’s action to that seen at THE peak in 2007 and 2000, but I believe that is misplaced. While the price behavior […]
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Date: May 24, 2013
