What Does the Fed Know…….That We Don’t?

“The only function of economic forecasting is to make astrology look respectable.” John Kenneth Galbraith This isnt going to be a “Lee Harvey Oswald didn’t act alone” rant, nor am I saying that the Bilderberg Group or the Illuminati really run the global economy…….but WTF is up withe the fed???? When unemployment was around 9%, […]

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Market Still Struggling

I guess you could just watch my Sunday video or just read last nights post if you want to get a handle on things, because not much has changed. Just a little more of the same. We were flat to slightly down today on the indexes, but the action was bad and weak patterns got […]

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Risk Off As the VIX Blasts Higher

The worm can turn fast in the stock market.  Risk appetite has left the building over the last couple of days as you can see by the dramatic move higher in the VIX since Friday morning.  Europe continues to rollover on Brexit fears and China is starting to play dead again. So its a confluence […]

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Regarding Gold and Those Miners

I will take a more in depth look in the video later, but here are some thoughts. GDX has been the standout performer of the year. Friday’s close marked an exceptionally interesting place on the charts.  From January’s low to Friday’s high, the ETF is up 95% from the low to the high! Remembering that the ETF is […]

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Lunchtime Look- Defensive Rotation

Some of the “sky is falling” folks have come out of hibernation this morning because the market is down. Not even 1%. Is it the start of something bigger? Maybe. All the wrong sectors are leading for us to have  a healthy market right now. Treasuries are getting bought aggressively still, and global rates are […]

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More Uninspiring Action

Dow -19.86 at 17985.19, Nasdaq -16.03 at 4958.62, S&P-3.64 at 2115.48 The market snapped its three-day winning streak, but the decline was modest in scope as the S&P lost just 0.2%. Equity indices faced some early selling pressure as the markets were reminded about the presence of global growth concerns after China reported a 0.5% month-over-month […]

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More Inching Higher

Major U.S. stock indexes rose for the third session in a row Wednesday, as the S&P closed in on its record and the Dow finished above 18000.  The S&P  hasn’t breached its record close of 2130.82 in more than a year, the longest dry spell since 2013. Investors have remained cautious even as the market […]

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Is The VIX Sending a Hint?

The S&P  crept closer to its record high Tuesday, lifted by oil’s return to $50 a barrel and renewed confidence that U.S. interest rates will stay low.  The gains briefly boosted the Dow  above 18000 for the first time in more than a month and the S&P 500 closed within 0.9% of its record, spurred […]

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Two New Stocks

Stocks advanced today, driving the S&P 500 to a fresh high for the year. Major indexes have rallied since May 19, which marked a recent low, with the S&P  gaining 3.4% in that period. With the advance, the SPX is 1% below its all-time closing high from May 2015. A rise in oil prices ignited […]

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