A lot of people are out there calling a bottom to this market. But I’m not going to. Too much risk remains in the market. Besides the government has gotten everything wrong to this point, what makes you think it will for once get something right now? Remember two weeks [...]
Today was shaping up for another brutal day in the markets. After the initial open where the markets dipped down in an extreme fashion, they managed to recover a chunk of those losses before latewr giving much of it all back. But then something very curious began happening, and we [...]
We warned this morning when the market futures were showing solid gains that the lift of the short sell ban would create some major selling today due to the flood of supply that would hit the markets – and that’s exactly what we got. Which sector you ask that led [...]
Joint Statement by Central Banks Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets. Inflationary pressures have started to moderate in a number of countries, partly reflecting [...]
It becoming very clear, that no one want their money in this market at all and that buyers are running for the exits in mass. As much problems that has already occurred with all of the failed federal interventions and so forth, the last thing the Fed would want to [...]
Probably no better title to describe today’s market action especially with what we saw in the later afternoon where the market erased about 5% of its losses to finish down only 3.9% in the S&P and 4.3% in the Nasdaq. My suspicion for the late day rally was probably in [...]
If Tuesday’s rally had you thinking the worst was behind the financial markets, then today had you second guessing that wild assumption. For the Nasdaq, things only got worse, by closing below Monday’s lows, and to be completely honest there is no sign that a bottom is coming in the [...]
Most expected a bounce today and we got one. The surprise in matter was the strength of the bounce. However, I wouldn’t make the assumption that a bottom has formed, because the volume doesn’t support it. Today’s rally didn’t convince me that a lot of capital was pouring into the [...]
I guess Wall Street made it known what it thought of Congress for not passing the bailout bill! Today was one of the worst days this market has ever seen. In fact we are now at four year lows in the S&P. Amazing how fast the market can knock down [...]
Well, today’s rally was largely due to the optimism surrounding a federal bailout plan would be finalized (or as the politicians like to call it, a “rescue plan”). Well after the market’s closed, the deal that was once inevitable fell apart. The problem is that you have a bunch of [...]
In what was a relatively wide-ranged day of trading, stocks limped to the finish line as the Dow again finished with triple-digit losses. After giving up all of Friday’s gains yesterday, the market turned sour as the details of the bailout plan were voiced at a Senate Committee hearing. As [...]
About 9% in gains in just two days and you were thinking that we would keep adding on? Mr. Market isn’t the type to act suddenly optimistic about things when for so long, he’s been in a gloomy mood – and today was a reminder of just that. On Friday [...]
