The story of the day is that gold dropped 6%, ending below the $1,600 mark. The Dow Jones Industrial Average also lost ground, ending at 11,828, and firmly on its way back to the midpoint and fair value (11,245.) The 15-51 Indicator also moved lower, losing 1% of its value. Listen, it’s a sloppy...Read More
If you’ve been reading my blogs regularly you know what “the market” is doing and why it’s doing it. You know its problems and fixes. And if you’ve read my book you know that governments control markets. Yesterday Fox News hosted the last Republican debate before Iowans cast the first votes to see who will...Read More
Today, in yet another hostile day on Wall Street, the Dow Jones Industrial Average once again ran away from 12,200 – a.k.a. the RedZone. Up to this point the Dow is hanging onto a paltry 3.6% gain for the year. The 15-51 strength indicator betters that by 313%, gaining 11.4% so far this year. Here’s...Read More
After a strong move upward on Thursday of last week, when the Dow Jones Industrial Average rose an impressive 490 points, momentum has virtually stopped, as the Dow inches towards a point in which it can’t hold – 12,200. When you look around it’s easy to see that nothing has changed. Europe is still a mess and close...Read More
It was only a couple of days ago that the stock market showed some real attitude, surging 400+ points ahead on nothing short of a pipedream. That takes gumption. It was followed by another stalemate yesterday. And then there was today, which can be called nothing less than a gutless performance. November unemployment was released today...Read More
The Dow Jones Industrial Average posted another surprising upward move today ending the day over 12,000 points – up another 4.2% (or 490 points.) When you look at what’s going on in the world right now, such a bold Dow move can seem hard to fathom. But when you get to the bottom of it...Read More
The DJIA is up strongly today (+422 points as of 10.30am) on nothing short of a pipedream. THESE ARE GREAT MARKETS TO SELL INTO — DETAILS AT 11 ( OR THEREABOUTS).Read More
The Dow Jones Industrial Average surged yesterday on rumors that European officials are getting closer to a debt deal. The Dow ended yesterday up 291 points or 2.6%. The above-average 15-51 strength Indicator rose 3.3% on the same grounds. And in early trading today both were in positive triple-digit territory again. Is this new European effort really cause for...Read More
Market conditions have been hostile for a long time. This is acutely evident by recent stock market volatility. Yesterday there was a valuation stalemate. Today was another triple-digit loss (the Dow ended 200+ points down). While it’s the same old story retold, look at these ugly Wall Street Journal headlines: Spending Slowed in October (by Eric Morath and Tom Barkley) Nokia Siemens to...Read More
US stocks remained relatively unchanged today amid a day of mixed news. The U.S. Bureau of Economic Analysis revised third quarter 2011 GDP down to 2% (off 20% from its original 2.5% estimate.) Revisions happen regularly. Here’s the revised GDP growth for the year thus far. Quarter Growth 1Q ’11 .4% 2Q ’11 1.3% 3Q ’11 2.0% Average 1.2%...Read More
