Bounce? Or A Case Of This Buds For The E.U.
The Dow left it late yesterday with the main action packed into the last 10 minutes of trading. But appearances can be deceptive. The late bounce was driven primarily by Anheuser-Busch’s
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Market Set For Fresh Test Of Lows?
The song remains the same with another late in the day market sell-off yesterday (how many times have I typed that of late?) It is almost become a self-fulfilling prophecy at this stage. Yesterday’s culprits included news of mass layoffs from Citibank
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Another Late Rout for Stocks
Maybe the NYSE should only open for an hour a day and close where it trades at 3pm EST. Because by the real closing time, prices tend to be a lot lower. In the end the news of the
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Is Circa 8,000 On The Dow The Bottom?
So the market played rubber ball rebound with a 900 points intra swing yesterday. The gravitational pull of October lows held sway early doors as the Dow Jones pushed below 8,000. But while 8,000 was breached, bottom fishing and bargain hunting
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Short Positions Profitable As Indices Fall Again
Equities stumbled out of the gate yesterday and never regained their poise as the dire news flow from corporate America just keeps coming. The catalysts for the sell off were dreadful results from Best Buy and Macy’s, woeful sales forecasts from other retailers and Hank Paulson’s u-turn on the TARP. Big picture is that the market hates uncertainty and is beginning to ask openly if the economic Czars in the Treasury have any clue what they are doing
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Automakers On The Brink Drag Stocks Down
A strange yesterday with the bond markets closed in observation of Veterans Day but the stock markets were open. And they probably wish they hadn’t bothered. With increasing worries about the future of General Motors (see below), the Dow Jones had a losing session, down 176 points
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Stocks Down As Corporate America Disappoints
A listless and lacklustre market initially buoyed by the Chinese stimulus package succumbed and sank under the weight of more woeful news from corporate America (see below). When the average Joe the plumber investor on Main Street sees investment gurus and icons getting hosed on their recent equity buys, it hardly encourages him to put his hard earned money into a long position
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Markets Defy Data To Finish Higher
The price action Friday belies the fact that the recession just got a lot uglier. Barack Obama’s press conference seemed to assuage the markets post election jitters and give the impression that his administration will hit the ground running. In surrounding himself with some financial heavyweights (Larry Summers, Paul Volker, Eric Smidt and Warren Buffet) and hinting at a big bang fiscal stimulus, he calmed some frayed nerves
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Are We Set For Fresh Market Lows?
The market seems to be sliding down the slope of hope as the great debt-unwind continues. The blame for sell off in the last two sessions is being laid at the foot of the old chestnut of hedge funds selling. The WSJ is reporting that one of the largest of these beasts, the giant Citadel is being asked for more collateral from its bankers and this has spooked market professionals
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Indices Fall With More Earnings Misses
Just what a poisoned chalice the incoming Obama administration has received is becoming clearer by the day. The daily grind of grim downside surprises in economic data is stark and shows the magnitude of the mammoth task ahead. The Dow Jones had its worst post Election Day fall (-486 points) in modern history as more companies missed their forecasts. At least we know now what the issues are now. It’s all about the economy and earnings
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The comment in this blog is the personal opinion of the contributors and not paddypowertrader. The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. paddypowertrader is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.
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