MARKET CHECK Markets were weak on the open, as it appeared that the streak of 18 consecutive higher Tuesday closes by the Dow looked to be in jeopardy. However, as stocks were selling off this morning, there were comments made by Fed officials about Europe and how they could potentially handle the precarious situation...
Read more →It wouldn’t be unreasonable to think that the market is going to take a “pause” for a few days before possibly making another run higher. Whatever happens, I’m not going to try and make a definitive market call (i.e. by trying to call a top). You’ll never find me doing that on here, as...
Read more →MARKET CHECK Equities are largely flat today, after trading higher in the morning, but giving most of those gains away near lunch time. The “news” in markets today is happening in gold and silver. After a massive down move in silver futures last night, the metal has reversed off the lows, and currently is...
Read more →It is expiration Friday, so we’re a little busier around here. Here are a few thingsthat I’m currently watching and will be worth paying attention to over the coming weeks. The NAAIM survey is coming up on some long-term resistance. I like this poll because it is what active managers are doing. In other...
Read more →In case you aren’t aware, this week is May expiration week and options on equities for May are set to expire after the market closes today at 4:00 PM EST. On Tuesday, I highlighted a strategy known as the iron butterfly, which can be used when you anticipate the underlying equity to close near...
Read more →Today’s chart comes courtesy from a number of reader requests for SINA Corp. (SINA) which operates as an online media company in the People’s Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including news, sporting events news, automobile-related news, business news coverage and personal finance columns,...
Read more →MARKET CHECK Markets were met with yet another round of worse-than-expected economic data today, but it still doesn’t seem to matter. Before today’s open, weekly jobless claims were released and missed expectations. As a result, markets quickly dipped, but bulls stepped in and ramped them back higher. Also, the Philly Fed Index at 10:00...
Read more →I just made the following observation on Twitter: $VIX and $SPX on 3/14: 11.30 and 1,563.23. … $VIX and $SPX at present: 12.90 and 1,653.66 Since 1990, it is a rare occurrence for the S&P 500 Index (SPX) to rally more than five percent over a 40 day or more period, AND the CBOE...
Read more →MARKET CHECK Today’s premarket action was littered with bad data points, including signs that Europe is entering recession, and much worse-than-expected Industrial Production and Empire State Manufacturing numbers. However, as we’ve seen as of late, buyers are firmly in control of this market for the time being. There was a brief move lower on...
Read more →Although things are going great for the bulls, here are two charts that should at least give some pause. Now, if you’ve been following me this year, then you know I’ve been bullish, but that doesn’t mean we won’t ever have a pullback. In fact, after some of the solid gains the past six...
Read more →MARKET WATCH Futures were largely flat coming into the morning, but legendary hedge fund manager David Tepper’s interview on CNBC sparked a fierce rally off the morning lows. On the show, Tepper declared that he is still bullish, and the market remains very cheap. As a result, the S&P 500 rallied over 20 points...
Read more →Today’s chart comes courtesy from a number of reader requests for Tesla Motors, Inc. (TSLA) which designs, develops, manufactures, and sells electric vehicles and electric vehicle powertrain components.
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