Stocks fell hard on Monday as the post Brexit selling continued from Friday. We have no idea how these rating agencies are still in business (after missing all of 2008) or why anyone listens to them, but stocks sold off after Standard & Poor’s lowered the United Kingdom’s sovereign credit rating from “AAA” to “AA.”…
Market Update: Stock futures are up nicely ahead of Tuesday’s open as the market bounced from oversold levels and investors digest Friday and Monday’s steep sell-off. Gary’s Thoughts: We wrote at the close yesterday: “Put buying spiked indicating heavy fear and bearishness. It is end of quarter as well as pre-holiday. And…the market is about…
If you want to know what happened last week on why most were on the wrong side of the vote, we think the following quote may just be appropo! “There is no such thing as public opinion. There is only published opinion.” – Winston Churchill The following would be our normal report based on normal…
Market Update: Futures are higher ahead of Thursday’s open as investors wait for the outcome of the much anticipated Brexit vote. The United Kingdom will vote in a referendum to decide whether Britain will remain in the European Union (the referendum is known as the “Brexit”). Polls will open at 2 a.m. EDT and close at…
Stocks fell on Wednesday as Yellen wrapped up her testimony on Capitol Hill and investors waited for Thursday’s Brexit vote. Stocks were mostly quiet with a little bounce in health care stocks early in the day on a favorable court ruling. But sellers showed up by the close and erased some of the gains by…
By Gary Kaltbaum- June 22,2016 A few thoughts one having nothing to do with the other: We think the dreaded Brexit is not the big deal pundits are making it out to be. A) We think odds favor the vote will go against leaving. Human psychology does not like change. But to our bleary eyes,…
By Gary Kaltbaum- June 21,2016 We have been talking and writing about the sickening Fed policy that for years, has completely ripped off savers, completely destroyed the riskless income investment, completely forcing these saved dollars into risky income investments and for that matter, into the markets. This morning, Mrs. Bubble was asked by Rep Jeb…
Stocks opened higher on Monday after the latest Brexit poll came out over the weekend and hinted they will stay. But sellers showed up by the close and stocks ended well off their highs. The British Pound (FXB) gapped up on the news. JD.Com ($JD) rallied after Wal-Mart ($WMT) said it would sell its online business to…
We had a report all ready for you on what we call the “big bowl of slop” market as we have seen a decent amount of deterioration recently. But after getting past being held hostage by Mrs Bubble, next up was the Brexit. Markets have teased the upside and downside depending on which way the…
On Thursday, stocks opened lower but closed near their highs after several major global central banks concluded their latest meetings. The Bank of Japan (BOJ), Bank of England (BOE) and The Swiss National Bank (SNB) did not announce any changes to monetary policy and that spooked investors and sparked a rally into so-called “safe-heaven” asset classes….
