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After a rocky morning, the market found its footing and closed solidly in the green. There were moments in the morning where it sure looked like the market was going to sell-off in rapid fashion, but $163 seemed to hold well, and the specter of another green tuesday gave stocks support.
Folks are finally figuring out the heads bulls win, tails bears lose environment we have been in for… Read More
Yesterday was a slightly mixed trading session as the market pulled mostly into the green. We had retail sales numbers yesterday, and import numbers today. Nothing that should move the market much. The number I am looking forward to is the CPI number released thursday at 8:30am. I am still a bear on Silver and Gold, and still hold my 22.50 puts that expire this week. Why am I… Read More
After doing my normal research over the weekend, and preparing for the Week Ahead Webinar, I came up with my normal “Stocks I Really Like” list. This list changes week to week, but does have some of the usual suspects.
I already held a position in all four of the stocks, but was looking to possibly add to my position at the open. Only 1 of the four performed… Read More
The market pulled back yesterday as the ADP report missed expectations and folks took the opportunity to lock some profits. Unlike most of these pullbacks, there was limited dip buying until the very end of the day when the SPY jumped back over $155 and closed at $155.23. I guess we will have to wait longer for the SPY to close above the intraday high. This morning we have… Read More
Another day, another record close for the S&P, now just waiting on a close above the intra-day high of 1,576.09 set on Oct. 11, 2007. The QQQ closed at Sept highs as Tech are starting to catch up in the rally, although Apple closed fractionally higher after being removed from the Goldman Sachs conviction buy list. The ADP report is out this morning: March ADP Employment Report employment at… Read More
Quarter 2 started out in the red with the SPY down .40%. The VIX closed up 7% and closed at 13.58. I still think the VIX sees sub $10 in the next few months despite all the folks clamoring for a pullback. Historically Quarter 2 is the worst quarter for the market in recent years, and has seen 5%+ pullbacks in the last few years, where Quarter 1… Read More
We start the first full week of March with futures red. Asia sold off overnight as some of the housing stocks in China hit limit down on concerns that Government actions may hinder growth. Japan was the only green market as stronger hints of increasing the easing programs lifted stocks. Europe is mixed this morning and futures are off their lows.
With earnings season dwindling down, it will… Read More
Two big up days, one big down day past three sessions. Everyone and his brother, sister, mother, father, friends, and anyone else with a mouse/pen/blog are calling for some type of pullback soon. Some say its the huge insider selling recently… well duh stocks are at 5 year highs.( http://www.marketwatch.com/story/insiders-now-aggressively-bearish-2013-02-06?dist=beforebell ) Some say its the triple top coming from 2007 and 2000 highs. Other say its overall bullish sentiment… Read More
Another day, another multi-year. high for the markets. This morning we have ADP numbers, where they beat expectations. 4Q GDP was -.10%, the first time it was negative since the recession. Futures are selling off on the news but I think once again, this is just another opportunity to buy calls.
AMZN reported earnings after hours that missed REV and EPS expectations as well as an outlook that… Read More
What another great day yesterday with NFLX really making some folks day, month, year and TZOO ramping in the morning. Looking forward to today, but will be a bit more cautious on some of the weeklies expiring today and will play maybe a few.
That conference in Davos is filled with headlines and bullish comments from everyone but my Grandmother, who is on the ski slopes. It almost… Read More
