This past Friday’s lower closing was an anomaly. Prior to Friday, the S&P 500 (SPX) and Dow Jones Industrial Average (DJIA) had a string of six consecutive all-time record closing highs. Friday closed marginally lower and continued depressed holiday trading volume. Despite the sell-off, the RUT, OEX, SPX and DJIA…
The Santa Claus rally may have come a week early. The indexes again reached all-time highs. Santa came back from vacation in the person of Ben Bernanke. Bernanke announced a $10 billion taper of the Fed’s $85 billion per month in bond purchases. Ben picks his words with care. He…
Ok I’ll admit it. I still have some Christmas shopping left. When it comes to shopping for gifts, I tend to work better under pressure. Since the deadline is pretty much past for online orders if I want them by Christmas, I am faced with going to brick and mortar…
Two consecutive down weeks in the market shifted discussion from the Santa Claus rally to a Santa Claus vacation. The focus shifted to an end of the Fed’s bond buying program. Economic data -retail sales, employment, housing, etc. – has been provided evidence of an improving economy. The Ryan/Murray budget…
When I was a kid there were about three Christmas specials. My brother and I would carefully check the weekly TV guide in the newspaper every Sunday around this time of the year to make sure we did not miss when they were on. They were on one time. Period. …
It would be easy to assume nothing happened last week if we looked at the Friday to Friday moves of the major equity indexes and volatility indexes. Per usual, “Employment Week” provided its typical thrill ride amusement. Lennon and McCartney summed up last week’s action in “Helter Skelter.” When I…
Sir Isaac Newton lost his fortune speculating on South Seas opportunities. His response to this financial trauma was “I can calculate the movement of the stars, but not the madness of men.” Be wary of the madness of other men. Markets were up for November and were up for the…
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