Greetings from Davos. Just kidding! WE’RE NOT IN DAVOS! We couldn’t even get invited to the Bronx! Not that there is anything wrong with the Bronx. But we are in beautiful Orlando, Florida where it feels like Davos with a low of 30° today. That freakin global warming! As we write this, another major gap to the…
Stock Market Overview: Stock futures are down sharply before Wednesday’s open as investors continue to unload their positions. Oil prices fell overnight to a new multi-year low and continue to implode. This relentless selling further signals what Gary has been telling you for months: markets across the globe are forecasting a recession. Gary’s Thoughts: Soon the rest…
Stock Market Commentary: Stocks ended mixed after trading between positive and negative territory on Tuesday as the S&P 500 retested Aug’s low. Oil negatively reversed and closed down on the day which is not ideal. Overnight, China said its GDP grew by 6.9% for 2015 which was the slowest pace since 1990! Additionally, China said Q4 2015…
For the past week, we have been telling you that a good bounce was near. But last week, each bounce lasted a day before the nausea set in. This morning, the market now opens with another frenzy-ish gap again off of the 3 day weekend and the fake numbers coming out of China. (How can…
Stock Market Overview: U.S. stocks were closed on Monday in observance of the MLK holiday. Stock futures and oil are up nicely before Tuesday’s open. Overnight The People’s Bank of China set their currency (yuan) parity rate against the U.S. dollar to 6.5590. Since March 17, 2014, the yuan has been “allowed” to move 2% either…
Transports down 28% and back to where they were May of 2013. Russell 2000 22% and May 2013. NYSE 17% and April 2013. Mid caps 17% and August 2013. Emerging markets (EEM) 45-50-% and back to where it was in May of 09. Not a typo. S&P 12% and February 2014. Dow 13% and November 2013….
Stock Market Commentary: Stocks fell hard on Friday as oil prices plunged nearly 5%. Stocks tried to bounce on Thursday but the fact that they can’t bounce from deeply oversold levels shows you how weak the market is right now. Stocks will be closed on Monday for the holiday but markets overseas will be open….
Stock Market Overview: U.S. stock futures are down big on Friday giving back most Thursday’s strong upside reversal. Once again oil prices are tumbling and global markets are selling off. We have mentioned countless times that the market was deeply oversold and way over due to bounce. The inability to bounce speaks volumes to how…
Stock Market Commentary: The long over due bounce finally occurred on Thursday after the S&P 500 came in within a few points of “re-testing” August and September 2015’s low. All week, we have been telling you the market was very oversold and way overdue to bounce. That is exactly what happened on Thursday. The key now…
SOURCE: http://www.wsj.com/articles/ge-escapes-connectitax-1452730001
