December was strong with year-over-year growth in terms of orders in the high teens. But January’s growth was less than we expected with order growth rates of approximately 10%. …….. Therefore our revenue guidance for Q3 fiscal year 2008 including…
“It’s not that it’s weak. It’s a complete collapse in the number, one of the lowest readings this statistic has ever had.” – Jim Paulsen (subscription required), Chief Investment Strategist, Wells Capital Management Recession talk is in the air again…
The Wall Street Journal ran a front page article on the bull market in gold this morning: “Investors Rush To Gold” (subscription required), by ES Browning. In it, Browning reviews how many investors, both individual and institutional, have been buying gold…
The rally that began at 1pm EST last Wednesday ended today at 3pm EST as investors sold the surge on the 50 point cut by the Fed (S&P 1 Day Chart, S&P 10 Day Chart). It was nice while it…
CNBC’s NYSE floor reporter Bob Pisani has been reporting today that Laslo Birinyi, Forbes columnist and well followed market analyst, has gone short term bullish in a note released late night characterizing his position as “a churning market within a…
Newsweek’s cover story this week is titled “Road To Recession” and the picture is of a desert road. I think this is significant. It tells us that many people are now of the opinion or at least contemplating a recession. …
Institutional money market funds increased their balances by $52 billion in the week ended Wednesday to $2.055 trillion (Investment Company Institute Press Release). That’s like a 2.6% increase in cash balances which is one of the largest I’ve seen.
“The big picture overall trend is still down and the market is still broken. Until that is repaired, rallies (even like the one we saw yesterday) are not to be entirely trusted.” – Charles Kirk, “Calling A Bottom”, Thursday January…
After flirting with positive territory in the second to last hour, the Dow and S&P have surged into positive territory in the first 15 minutes of the final hour of trading (S&P 5 Day Chart). In fact, we’ve seen an…
“History teaches that the greatest buying opportunities often arrive at moments of extreme stress in the financial system. Positioning one’s mind, and one’s portfolio, to exploit such moments is vital for generating something other than mediocre performance for the long term. …