Friday saw markets remain weak going into the weekend. There were increasing concerns over the spread of COVID19 and concerns about the upcoming Nevada caucuses on the back of a horrendous Democratic debate on Wednesday evening. How would Nevada go? Was Mikey Bloomberg wounded beyond repair? I mean he wasn’t even on the ballot, but [...]
Yesterday I brought up the whole Irrational Exuberance conversation, and if the surge in the market and certain names was getting to be a bit “out of control” causing some assets to form “blow off tops” (A: Yes). Guess what? It is irrational at the moment. Not that the market can’t go higher, it can [...]
“You know that it would be untrue, you know that I would be a liar, If I was to say to you, Girl, we couldn’t get much higher… Come on baby, light my fire, come on baby light my fire. Try to set the night on fire!!! The time to hesitate is through, no time [...]
Apple is unable to define the hit that it is about to take to the top and bottom lines (thanks to COVID19), sending all of the suppliers around the world down the drain. And with the Moody’s downgrade of China’s GDP and economy (thanks to COVID19) and the negative news surrounding HSBC, you would think [...]
Markets continue to linger; accommodative central banks keep investors champing at the bit. Apple becomes the first US company to warn of a hit to demand this quarter (and WHY should that really surpr…Continue →
Stocks fluctuated between losses and gains on Thursday, on a day that saw Asian and European markets come under pressure as well after China announced a revision to the way they diagnose the virus. causing the number of confirmed cases soaring. It sounds worse than it is. Apparently, after the WHO (World Health Org) said [...]
**Breaking news overnight – Markets under pressure! The outlook worsens! ** Hubei Province in China announces 15k NEW cases and 130 additional deaths caused by COVID19 and extends work ban through February 20th. Total cases in China rise to 60k and deaths rise to 1400. Beijing removes two officials in Hubei Province for what they [...]
In yesterday’s Humphrey Hawkins testimony, Fed Chair Jay Powell told the House Financial Services committee that the Fed: “…is closely monitoring the coronavirus situation for a potential hit to China and the global economy.” Telling those same members of Congress that: “…too early to say how the coronavirus will ultimately impact the US economy.” [...]
The momo guys (momentum) were at it again. While the headlines are still fairly concerning, the momo guys are completely ignoring it, choosing instead to focus on the robust US macro data, which is ok, until it isn’t but we’ll discuss that in a bit… sending both the S&P and Nasdaq to new all-time highs. [...]
Stocks surged higher all week and then sold off on Friday as investors/traders/algos took a breather, locking in some gains after seeing the indexes surge more than 3% each as “fear” over the coronavirus subsided. It reared its ugly head again on Friday, which makes sense as we went into the weekend. Market participants (mostly [...]