As mentioned in yesterday’s analysis, we anticipated a market bounce today and while it might not seem like much in terms of what we got at the end of the day, nonetheless, it was. Wall Street received a nasty jobs report, that saw the market open drastically lower, only to [...]
Wow! Today’s action was by far one of the most significant days of the year. One could truly feel panic setting in with the buyers. We are extremely oversold in every sense of the word, and at this point it would seem illogical for us to get a bounce, which [...]
Indecisive for most of the day, market finally made a break for it to the downside. Nice to see traders coming back from their summer vacation as indicated by the two strong days of volume we have had so far in September. Something we haven’t seen in quite some time, [...]
Wall Street had everything going for it: a weakened hurricane that avoided the off-shore oil rigs, which subsequently saw oil prices sell-off almost a 10% from Friday’s close, combined with enthusiastic traders coming off an extended weekend. However, September lived up to its billing of being a dismal month for [...]
August 29, 2008 Well it has become the trend of late – two or three steps forward and one gargantuan step backwards. What makes this all so very interesting is that reports on durables and personal income are having huge impacts on the market, when their impact prior was usually [...]
August 28, 2008 A strong GDP report followed by a drop in jobless claims did wonders for Wall Street today – not to mention the fact that oil saw weakness in light of a brewing tropical storm in the Gulf. In regards to volume we are starting to see somewhat [...]
August 27, 2008 Markets were rather stagnant held up by a descent durable goods report. Oil is increasing and is likely to see more of the same in the days ahead, until Hurricane Gustav finally decides what it will do out there in the Gulf. There are a few reports [...]
August 26, 2008 Markets finished in mixed fashion today as there was little news to move stocks in either direction. However, we could see oil pick up some steam in the days ahead as Hurricane Gustav approaches the U.S. and the heart of oil production (i.e. Texas and its off-shore [...]
August 25, 2008 After three solid days of gains to close out last week, the market gave back all of those gains in one, single sitting. Financials led the way to the downside, followed by a minor uptick in oil prices. Anytime those two forces move together, it becomes an [...]
August 22, 2008 Solid way to end the week, we have oil selling off in a dramatic way, which was the main inspiration of today’s rally. Especially after oil had rallied strong the day before, and had Wall Street thinking that all of the selling of late was done and [...]
August 21, 2008 One of those days in the market today, where you might have rather watched grass grow then the ticker tape. Nasdaq down and the S&P up, and neither by any great amount. What was the headlines? More worries about the financials, but let’s be honest, Wall Street [...]
August 20, 2008 Despite the winds and heavy rains brought to us by Tropical Storm Fay (over 17” worth in 36 hours) we, nonetheless, press on to provide you with the daily market analysis. So today’s market action was predominantly driven by some short covering late in the day mostly [...]
