Whoever is selling stocks these days is really appreciative of those who are pushing the market higher. Thanks to overnight rallies in China and Japan on Tuesday night, US stocks launched higher at the open on Wednesday. Now, neither the
September 9, 2015
Losses from the US session extended following comments in one of the government’s official mouthpieces that “China doesn’t need massive stimulus.” A BoNZ rate cut (blaming China’s devaluation) sent Kiwi tumbling, Ringgit hit a fresh 17 year low against the
There is so much confusion out there. On the days when the Dow goes down by several hundred points, lots of people pat me on the back and tell me that I “nailed” my call for the second half of
Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW – 239 = 16,253 SPX – 27 = 1942 NAS – 55 = 4756 10 YR YLD – .01 = 2.18% OIL – 1.79 =
Handful of the economic announcements today During the session on Thursday, there are quite a few economic announcements they can move the markets. Without a doubt, the interest-rate decision coming out of the Bank of England will be a major
Asia saw some very strong gains on rumors of renewed Chinese intervention with the Nikkei producing its strongest one-day rise since 2008 (1,343 points +7.7%). The Chinese markets reacted to the news rather late yesterday. Europe walked into the jubilation
“Benign remedies are for the innocent. Misdeeds, once exposed, have no refuge but in audacity. And they had accomplices in all those who feared the same fate.” Tacitus, Annals Gold and silver were hit early on today, and knocked lower
Well, the ridiculous “BRIC” meme (Brazil/Russia/India/China) suffered another embarrassment after hours, as Standard & Poor’s has downgraded Brazil’s bonds to junk level (and a negative outlook, although I’m not sure what is worse than “junk”). There are probably some people out there
On the last day in July, Baidu (BIDU) announced that it will buy back up to $1 billion of its shares. Baidu is China’s huge Internet search provider. Three weeks earlier, China Vanke (CVKEY) said it would repurchase $1.6 billion
Well, the market still has its leader and boy did it not give damn today. The Semiconductor index is still in the channel vs. S&P 500. But that was a nasty in-day market reversal and is also why I have
