Today was an interesting day in the markets. The key event was the release at 10am EST by the Commerce Department of the report for February New Home Sales. The report said that new homes sold at a seasonally adjusted…
One of the arguments you hear alot these days from bulls is that stocks are cheap. At a P/E of 17 (based on 2006 earnings) for the S&P 500, stocks just aren’t all that risky, they say. But this is…
Sanskrit n. : 1. An Indo-European, indic language, in use since c1200 b.c. as the religious and classical literary language of India. To the casual observer, today’s market action is sure not to make any sense. The Fed left the…
The Wrong Question is: Is the market going up or down? I’ve seen a million different dudes on CNBC in the last week arguing for why the market is going to go up or down, as the case may be. The guys…
I don’t want to be too sophisticated here, but 2007 is going to suck, all 12 months of the calendar year. Our future is not as bright as we would like it to be. – D.R. Horton CEO Donald Tomnitz,…
Today was one of those days that causes people to sell all their stocks and swear off the stock market forever. It was the worst day for the market since the re-opening after the Sept 11, 2001 terrorist attacks. At 3:00pm…
Before the open of the market yesterday (Wednesday) The Labor Department announced (subscription required) that core inflation (“core” excludes food and energy) increased .256% from December to January. Core prices were 2.7% higher compared with last January. The Fed’s desired…
In his semiannual testimony before Congress which began this morning (Wed) at 10am EST Fed Chairman Ben Bernanke said that he is comfortable with current interest rate levels and that the factors contributing to inflationary risk appear to be waning…
I believe Barry Hyman, equity market strategist at EKN Financial Services, gets it right when he says technology is “going to hold the key to the near term direction of the markets” (subscription required). And I think technology also explains…
Wow. What a turn around in just a few days. When I was writing my previous post after the close last Tuesday the market was starting to look up. We’d had a nice rally on Thursday and Friday (Jan 11…