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
I was drawn to two specific Wall Street Journal articles today: * Did ‘Volatility Funds’ Deliver? (Ben Levisohn) * Morgan Stanley Settles SEC Case (Brett Philbin and Ben Fox Rubin) Some cable news pundits can’t get enough of the VIX, the Chicago Board of Trade’s Volatility Index. They call it the “fear index.” But what...Read More
I walked into a meeting today with a couple of brokers and their first words to me were, “Wow, Dan – all dressed up today.” I smiled and nodded my head. Truth be told, I’m a notoriously causal dresser. But today was different. Today was my first personal encounter with the Wall Street establishment since publishing LOSE YOUR BROKER...Read More
“The market” rebounded today by posting a 112 point gain after yesterday’s 389 point slide. If I were a gambling man, which I’m not, I would have bet it would have dropped another 125 points today. My friend Bobby had his money on a 60 point gain. (Yeah I wrote the book – but he...Read More
