After being up this morning on a strong October ISM Manufacturing report, the market turned course with the S&P dropping 20 points between 12pm and 1pm EST. Yowza.
Federal Express (FDX) preannounced disastrous earnings last Thursday afternoon and filled in the specifics yesterday when it reported the actual numbers. As you can see in the chart above FDX was apparently doing just fine – including a nice bump…
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A rally today in the face of [the Jobs Report] would help show that the market is convinced of three things: 1) the bottom has already been put in, 2) if we’re in a recession, that it won’t last long due to…
Writing in today’s Wall Street Journal E.S. Browning said (subscription required): Whether, and how, the [forthcoming 1st quarter] profit news surprises investors is likely to be the main determinant of the market’s direction in the next few weeks. Finally we can…
Raymond James Investment Strategist Jeff Saut has an interesting idea that “selling stampedes” generally last about 17-25 trading days. By my count, the current one just completed its 19th day (Friday June 6 – Wednesday July 2). Saut thinks today…
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