Stocks rally to new highs (again) on the back of the weekend news as the shortened Thanksgiving week got underway… Rinse and repeat (this was the Monday opener). Good morning America, good afternoon Europe and good evening Asia. It’s a short week for US trading; closed Thursday all day and closed early on Friday. So [...]
Good morning America, good afternoon Europe, and Good evening Asia. It’s a short week for US trading…Closed Thursday all day and close early on Friday — so if anything is going to happen in the markets, expect it to happen today, tomorrow, or Wednesday… Now I say this because suddenly over the weekend, something interesting [...]
So it’s done. Charlie forces commissions to zero, forcing the others to match. It causes margins to compress, discount broker stocks to sell off, and then sneaks in and takes out TD Ameritrade for m…Continue →
Stocks once again made a run for new highs, only to find resistance at the 3125 level, a level I had identified weeks ago. (It was actually 3127, but really do 2 points really matter at this stage in the game?) As the day wore on the Dow and S&P struggled while the Nasdaq and [...]
So maybe it wasn’t so clarified… I mean on Friday, it appeared that we “were done.” Markets rallied to new highs and the Dow breached 28,000. Over the weekend, we were told that the US and China had “constructive” talks. That’s good and then yesterday morning the Chinese come out and said “not so fast, [...]
On Friday I wrote this paragraph at the end of my note: S&P remains stuck at 3100 but if we are closer to a deal than not, then look for the algos to try and push it higher and break this logjam. As noted a month ago, if you draw a trend line, resistance should [...]
Stocks marched in place, doing nothing once again… and I mean nothing. As investors continued to worry about the mixed economic data and a stalled trade deal, treasuries rallied a bit. Gold rose by $8 an oz to $1,473/oz, after having found that support at $1,450/oz that we discussed last week. Word that China wants [...]
Disney (DIS) hits it out of the park. Are you really that surprised? In just 24 hours, the Disney+ streaming service signed up more than 10 million users. By tomorrow that number is sure to be at least 20 million. As a result, investors (algos) took the stock up 7.4% or $10.14 as the streaming [...]
So, on a day when a lot could have happened, investors and the markets had little to no reaction to Trump’s speech at the Economic Club of NY. In what could have been an opportunity to discuss the ongoing trade war and where the country is in terms of real progress, turned into Trump bashing [...]