Last Thursday the market opened strong only to roll over hard into the close. The S&P had a 100 point range of approximately 5150 to 5250. Friday was an inside day in which all of the price action took place…
To provide greater support to mortgage lending and housing markets, the Committee decided today to increase the size of the Federal Reserve’s balance sheet further by purchasing up to an additional $750 billion of agency mortgage-backed securities, bringing its total…
Everyone knows today was a countertrend rally. Just a bear market rally. Everyone knows we’re going to revisit these lows. Everyone knows we’re going lower….. From CNBC to news websites and blogs, the consensus is that today was just another bear market…
A slowing rate of job loss isn’t the same thing as job growth. – James Picerno, “Still Hoping….”, The Capital Spectator, May 8 Stocks gapped up this morning on a better than expected April Jobs Report. Non-farm payrolls declined by 539,000…
Ultimately, it was another inconsequential day….. Under more normal circumstances, I’d be spending this week on the golf course, but I’m still in catch up mode. – Charles Kirk, “Another Inconsequential Day”, The Kirk Report, Wedneday August 27, 4:44pm EST…
The dollar continues to tank and commodities continue to rally in the wake of yesteday’s Fed announcement: The euro is up another 2 cents versus the dollar to $1.37 – after rallying 4 cents yesterday after the Fed announcement. Oil…
