What a first week of the year for stocks! First, a mildly negative PMI manufacturing number out of China, halts the relief rally in equities. Next, Apple warns of slowing revenue growth, due especially to a slowdown in sales in China with the trade conflict. A goofball Trump economic advisor
We write this 2019 Market Outlook in a very particular market context. U.S. equity averages suffered one of the worst months of December on record, with the S&P 500 down more than -20% from highs. Ostensibly, the Federal Reserve has turned hostile and the global Trade War is far from
Several weeks ago May 5th in a comment on this website, I brought to reader’s attention a Point and Figure chart of the Canadian TSE index which to me spelled trouble ahead.. It took more up and down movement within the longer term trading range but eventually the market
This weekend is one the world auto industry celebrates. Today is the Monaco Formula One race. Later in the day is the Indianapolis 500 race. Drivers start your engines!!! This weekend also kicks off the summer driving season in the northern hemisphere, which happens to be by far the majority
The Triumph of Greed Over Fear It took less than one week for U.S. equity benchmarks to continue their parade of record daily closes after hitting an air pocket on May 17. Last Wednesday’s one day wipe-out on the S&P 500 (-1.8%) and Nasdaq- 100 (-2.5%) felt like a rush
Yesterday, I noted that US frack oil producers were enjoying 30% discounts from US oil service companies in a temporary program to keep these companies operating and to enjoy short-lived profitability from carefully chosen tight wells. $XOI and $OSX are the industry indexes most investors follow. Check the components. Key
It really is hard for me to figure out why the bond and equity market reacted as it did yesterday after the Fed made the following statement: “It likely would be appropriate to begin reducing the Federal Reserve’s securities holdings this year.” The fact that the Fed stated they intend
Before it plays out this year, let me read to you from the world’s most important storybook. But first, a question. Who owns America’s biggest oil refinery? http://money.cnn.com/2017/05/01/investing/saudi-arabia-buys-largest-oil-refinery-port-arthur/index.html Well, yes, it happens to be Saudi Arabia, where today President Trump is helping close business deals worth maybe $200 billion. Yes,
The Death of Traditional Retailers Maybe A Bit Exaggerated Yet another frustrating week for equity bulls and bears. Most equity indexes continued to gyrate meaninglessly, despite a spike higher in volatility mid-week. As we’ve grown accustomed to, by the close on Friday volatility had settled back down with the VIX
At 6:00am ET today, equity prices in Europe and UK continue to sink as they did earlier in Asia and Australia, now down some -1.5%. The selling is pretty much across the board. Support-resistance levels of one’s holdings must be reviewed. A few thoughts come to mind. 1. Will the
Input your search keywords and press Enter.
