U.S. stocks were closed on Monday in observance of independence day. Overseas markets fell as fresh concern spread regrading Brexit. On Monday, the European Central Bank opened the door to state aid for euro zone banks. Italy was back in focus when they entered into to talks with the European Commission to recapitalize their banks with…
Market Update: Stock futures are lower ahead of Wednesday’s open as global markets remain under pressure and investors wait for the Fed minutes to be released at 2pm est today. Next up will be Friday’s jobs report and earnings season (over the next few weeks). Gary’s Thoughts: Lower but off lows. Markets remain mushy with foreign markets…
Market Update: Stock futures are lower ahead of Tuesday’s open as the market digests last week’s very strong bounce after the initial Brexit sell-off. Looking forward the market is waiting for the jobs report and then earnings season to begin next week. Gary’s Thoughts: Now that end-of-quarter, pre-holiday is over, we shall see. Would be normal…
“HECKUVA END OF QUARTER ACTION!” By Gary Kaltbaum-July 5,2016 After two days of absolute nausea, we wrote to you Monday night that we thought a rally was about to start. The thought was simple. We were entering the end of quarter window dressing. We were entering the pre-holiday trading. Bearishness picked up to levels…
On Thursday, stocks continued to rally as they attempt to repair their post-brexit sell off. The wild swings we have seen over the past five trading days are unprecedented and just illustrates how all the interference from global central banks continues to distort markets. Tuesday morning, Mr. Draghi (European Central Bank President) said Central Banks…
Market Update: Stock futures are quiet ahead of Friday’s open as the market digests the very strong bounce after the Brexit sell-off. Gary’s Thoughts: Bank of England announces cutting rates..continues the amazing turnaround. More on the weekend. Happy July 4th! Economic Data: Motor Vehicle Sales PMI Manufacturing Index 9:45 AM ET ISM Mfg Index 10:00 AM ET Construction…
By Gary Kaltbaum-June 29,2016 After scanning Monday night, we came to a simple conclusion about Mr. Market. We thought that markets were stretched and extended to the downside beyond the beyond and that the end-of-quarter window dressing (illegal) and the pre-holiday trading would get the market rallying back up some of the nasty drop. So…two big…
Market Update: Stock futures are up ahead of Wednesday’s open as the market is bouncing from oversold levels and investors digest Friday and Monday’s steep sell-off. Gary’s Thoughts: And another gap to the upside. Wasn’t the past few days fun? As we said, end of quarter, pre-holiday, massively stretched and oversold and a big dose…
Stocks rallied on Tuesday as the market bounces from deeply oversold levels. Remember stocks have fallen in each of the past 3 weeks and are now bouncing from oversold post brexit levels. Before the open, the government said, the U.S. economy grew at a 1.1% rate in the first quarter of 2016, beating the last…
By Gary Kaltbaum-June 28,2016 We double checked these numbers. They had better be right. After the recent smackdown of markets, we thought it important we sent this out again just to make a point of what all the easy money has brought or bought. We are optimists but we deal in facts first and foremost….
