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…
We’re 9 trading days into 2007 and I thought I’d comment on some of the things I’m seeing in the market. (1) Changing Perceptions About the Fed – When the Fed minutes were released on the year’s first trading day,…
Great! Right after I tell everybody to go long the S&P 500 by buying call options the market has it’s worst day in 6 months. The Jan07 SPY 137 calls that I recommended lost a third of their value today…
I tend to agree with Graham Summer’s Growth Stock Wire missive this morning, “The Correction is Here”: It’s quiet …… too quiet. I don’t mean to rain on everyone’s parade but September has been much too tame so far. There…
The US consumer is holding up nicely thus far as Bed, Bath and Beyond (NASDAQ: BBBY), Circuit City (NYSE: CC) and Nike (NYSE: NKE) all reported strong quarters this past week. Bed, Bath and Beyond, owner of 762 Bed, Bath…
The Fed decided today to leave the federal funds rate at 5.25%. The interesting thing is that the bond market is pricing in rate cuts in the next year or so. Justin Lahart, author of the Wall Street Journal’s daily…