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The Closing Look

ByGary Kaltbaum
1 Comment

Stocks opened lower on Thursday as the US dollar soared. Overnight, stocks in Asia and Europe fell over 1% as sellers showed up after a nice two week rally. After Europe closed, buyers showed up and helped the major indices rally off their lows. Remember, we had a big run since May 19 and it is perfectly normal to see the market pull back a little to digest that strong rally. In other news, The European Central Bank (ECB) began its corporate bond purchase program on Wednesday. ECB President Mario Draghi spoke on Thursday and warned of “lasting economic consequences” for the next few years because of tepid economic output.

Gary’s Thoughts: A few things of bother: FINANCIALS continue to act terribly. Go take a look at Goldman (GS). BULLISHNESS has picked up markedly. And GEORGE SOROS is a bear. Not sure we ever want to argue with him. Lastly, FOREIGN MARKETS act poorly in relation to ours. We shall see.

One Comment

  1. So many people live out there name. “Soros” similar to sour’s
    Sour’s the market, thanks to fin media, for his own gain.
    All need to discount people with agenda’s.
    Market melt up reasons:
    Dollar drift sideways or lower.
    Less Obama factor.
    Time.
    Our winning US corps.

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