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 [...]
Front page of the WSJ: “Google’s Project Nightingale Gathers Personal Health Data (names, d/o/b, phone numbers, history, claims, treatments) on Millions of Americans.” This is a must read by everyone. They have AMASSED health records from Ascension facilities in 21 states – PATIENTS NOT YET INFORMED. As expected, the markets came under pressure as the [...]
Today is Veteran’s day in America, a time to say thank you to each and every veteran you see. NYC will be celebrating by hosting the Veteran’s Day Parade and I humbly ask that you consider supporting a veteran’s cause. My hope is that you will consider the Headstrong Project (Getheadstrong.org). It is an organization [...]
Stocks marched higher as expected once the headline that rocked the world hit the tape. The US and China are moving down the path of cooperation. Phase One of the deal is coming and with it are the rollbacks of tariffs on BOTH sides of the aisle. The Americans and the Chinese have apparently (or [...]
Stocks felt constipated yesterday, as if in a holding pattern, reacting only to the news that the US/China trade talks are being postponed until mid-December. When that headline came out, the market took a brief hit. At 11:44 am, the S&P, the Dow, and the Nasdaq all took a fairly big, swift kick in the [...]
Stocks danced around all day, teasing a bit higher only to back off. It traded in a tight 11 point range all day for the S&P (3072/3083) before ending the day lower by 3.65 points at 3,074.62. The Dow advanced by 30 points as it closed at a new high, the Nasdaq advanced by 1 [...]
The averages RIPPED higher as the good news continues to hit the tape. Recall that over the weekend, the Minister of Commerce in China made mention that the two sides were making “substantial progress” and then on the Sunday morning talk shows our own Wilbur Ross reiterated that story. So they “set it up” and [...]