We are wearing a Dusty Rhodes tee shirt and black dockers on the red carpet tonight! We continue to be amazed by those on Wall Street that continue to say we need more stimulus. We continue to be amazed by those that say central banks have more they can do. Are these people just wishful…
Stocks opened higher but ended mixed on Friday after the government said GDP rose 1%, beating estimates for a 0.4% gain. It was a volatile week on Wall Street but after all was said and done, stocks rallied nicely and are now trading near stubborn resistance (declining 50 DMA lines). The G-20 meeting of central…
Stock Market Overview: Futures are up nicely ahead of Friday’s open and the GDP report. Stocks are higher after Wednesday’s very strong positive reversal. The next level of resistance to watch is Monday’s high and the 50 DMA line. Gary’s Thoughts: Gap to the upside as Dow/S&P back above 50 day as of yesterday’s close. Maximum…
Stocks rallied on Thursday as the market added to Wednesday’s very strong positive reversal. Overnight, the Shanghai composite plunged -6.4% and hit a three-week low. Rumors spread that China’s central bank injected another $52 billion into the money market to help stabilize markets. The ChiNext index which tracks small-cap Chinese stocks tanked -7.7% which clearly…
Stock Market Overview: Futures are up ahead of Thursday’s open. Stocks staged a big positive reversal on Wednesday after bouncing off their 10 day moving average line. The next level of resistance to watch is Monday’s high and the 50 DMA line. Gary’s Thoughts: We repeat…watch the 50 day. A move above does not hurt but keep…
Stocks opened lower but closed higher on Wednesday after the latest round of lackluster earnings and economic data were released. Oil prices also positively reversed after the latest EIA report was released. Economic data was less than thrilling. First, February’s Flash PMI Services Index Fell to 49.8, miss estimates for 53. Then New Home sales plunged -9.2%…
Lots of questions being asked so one more email: We do not believe recent lows get taken out any time soon. We know the last rally only lasted 10 days but bear market rallies usually last a multiple amount of weeks. Time and price take care of the stretched, extended and oversold conditions. Even though…
Since we are being asked: A Financial Times headline says that JP Morgan had to add $500 million to loan loss reserves because of “energy pain!” Now you know why financials have been acting horrid. They are not going to be alone. Remember, in bear markets, everything comes front and center as debt and leverage become…
February 24,2016 It’s happened again! Since it has happened again, we felt it necessary to send out the most important characteristic of a bear market. And yes, we coined this term during the last big bear market. “Bear market rallies are sharp, quick, make you feel good, suck you in and bury you soon after.”…
Stock Market Overview: Futures are down ahead of Wednesday’s open as the market continues digest it’s strong rally off the Feb 11th, near term low. During that time, the benchmark S&P 500 soared nearly 7% which is not an insignificant sum. Remember, moves of that size typically happen during bear, not bull, markets. Gary’s Thoughts:…
