Daily Analysis

January 14, 2008 The market was determined to get us off on the right foot to start the week. It did so in the form of IBM giving a preannouncement to their earnings. While their earnings were so-so domestically, it was able to beat earnings estimates due to international demand for their products. Without a

January 11, 2008 After a couple of good days in the market, the bears once again stepped in and decided to regain control of matters. Merrill Lynch was rumored, according to a news report, to have about $15B in further subprime writedowns. Adding to those problems was American Express announcing that slower consumer spending and

January 10, 2008 Holding its own for most of the day, after rallying strong in the previous session, markets welcomed the words of Ben Bernanke, as he assured everyone that more rate cuts were to come. The question at this point isn’t “if he’ll cut rates” but by “how much” he will cut rates. A

January 9, 2008 No doubt that investors will sleep a little bit better tonight, but even though we got the kind of relief rally we were expecting, no one is brave enough to say that the worst is behind us at this point. Very little comfort should be taken away from this rally. Our opinion

January 8, 2008 Continuous attempts by stocks to rally higher after major sell-offs have been in vain as the bears continue to use each rally as an opportunity to reload their short positions before sending stocks lower. Investors seem to be exasperated as the cries for a relief rally continues to fall upon deaf ears.

January 7, 2007 A major struggle for most of the day as stocks struggled to stay in the positive. Yet in the final minutes of the day, the indexes rallied to close the day in split fashion. For the NASDAQ it was comforting for it to only close slightly down on the day. On the

January 4, 2008 Friday was just about as ugly as it gets. Anyone long on anything pretty much was decimated in their holdings (exaggeration added of course – but not much). When measuring advancers versus decliners, the ratio was 5 to 1 in favor of the decliners. Between the NASDAQ and the NYSE, there were

January 3, 2008 Yet another day where we open up somewhat decent and then give back all those gains to the market. The bears know that there is a lot of underlying problems with the economy, and with every rally in the market, they take as an opportunity to short even more. Where this becomes

January 2, 2008 With stocks opening slightly in the positive, it didn’t take long for the market to reverse direction and make the day a tumultuous one for longs. One of the things we could have been seeing here today was profit taking from a tax standpoint. If investors heading towards the end of the

December 31, 2007 Major indexes opened the day in the red, and never looked back as they hit their lows during the lunch hour, and then rallied, but come the end of the day investors did some last minute portfolio adjustments and sent the market down once again closing near their lows of the day.