Tale of the Tape: Good evening folks. Today is the first day in months we felt the animal spirits teeming through live charts and level 2 screens. There was even a whiff of the FOMO! The S&P 500 closed up 3.4% to 2749, the highest close since March 10. Real Estate, Energy, Utilities, and Materials … Continue reading Is FOMO Kicking In?
Month: April 2020
The Bob Dole Market: Can’t Keep It Up
Tale of the Tape: Good evening everybody. Today was the Bob Dole market. It just couldn't keep it up. lol It was all about follow through or the lack thereof. Remember that streak from mid-February to late March when we were unable to get two up days in a row? Every rally was met with … Continue reading The Bob Dole Market: Can’t Keep It Up
Don’t Go Hog Wild from One Big Rally
Tale of the Tape: Good evening everyone. Today, we hit the daily double. The market ripped higher and it appears that the number of new Covid deaths per day in New York may have peaked. We are grateful on two fronts, while recognizing these are both delicate things. First, one big day, even this monster, … Continue reading Don’t Go Hog Wild from One Big Rally
The Weekend Rip: The Calm Before the Tornado
The weekend gives us all a minute to stop and process what the heck is going on out there. We can make it as complex or simple as we want. Let’s focus on the things that have mattered and that seem to matter now. With equities, we’re paying close attention to small caps and financials … Continue reading The Weekend Rip: The Calm Before the Tornado
*ucking Furlough
Tale of the Tape: Good evening folks. It's Friday evening, markets are closed for the week, and, quite frankly, we’re exhausted from this endless corona noise festival. If anyone wants to Zoom and drink, let’s just blow off the Zoom but let’s keep the drinking part. Howie’s buying! Stocks closed lower today. The S&P 500 … Continue reading *ucking Furlough
*uckin Coffee
Tale of the Tape: Good evening friends. Equity markets do not care about your stinkin’ unemployment numbers. Last week, an astonishing 6.6 million Americans applied for unemployment benefits. This is a record and double the number from two weeks ago. The chart below from CNN drives home the enormity of what is happening to the … Continue reading *uckin Coffee
The Saudis Can Be Very Persuasive…
Tale of the Tape Good evening everyone. The market got hammered today with the S&P 500 closing down 4.41%. We’ve now given back all of Monday’s big gains and then some and are now down 2% plus for the week. This was a bad start to the second quarter. The Russell 2000 got hit especially … Continue reading The Saudis Can Be Very Persuasive…
