I wouldn’t have expected it but the market rallied strongly in the last half hour taking back about 40% of its losses (Intraday Chart).
It’s been another volatile day so far. Markets opened sharply lower, due to selling overseas and weak same store sales numbers from McDonald’s (MCD). US same store sales were up only 3.3% in the 4th quarter and flat in December (MCD…
The market has reached extreme oversold conditions from which powerful rallies almost always arise. Two weeks ago, Jason Goepfert pointed out that there had only been 18 similar days since 1984 in which more than 29% of stocks on the…
Our customers [in the US, Asia, Europe and Latin America] are beginning to see a steadying, a stabilization, something solid under their feet. – John Chambers, CEO, Cisco Systems, Squawk On The Street this morning John Chambers was pretty optimistic…
It seems like the biggest story of the last 4 weeks, the problems at two Bear Stearns hedge funds involved in subprime mortgage backed securities, is coming to an end. In a letter to clients (subscription required) Bear had this…
Troubling all around, lower confidence and ongoing inflation worries. – Ian Lyngen, Interest Rate Strategist, RBS Greenwich Capital This morning the Reuters/University of Michigan Consumer Sentiment Survey fell to 59.5 – down from 62.6 in April and its lowest level…
I will be out of town early this week on business and I don’t know if I’ll be able to get any posts up. So I’ve decided to post this week’s Client Note. Every week I write a Client Note…