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Showing posts from October, 2014

October 25, 2014 – Weekend Market Comment

Yes I know this posting looks a bit odd but I am posting from my buddy Pepe`s mac notebook sitting in my friend Guy`s apartment in beautiful Bordeaux France and so you get what you get. Also this mac is set to Spanish so you are going to need to forgive me, my spell check is not functional and many buttons are a tad confusing.

Of course in the market we are having a nice bounce that you all  saw coming because I showed you that primary sell was bouncing off the bottom and VIX was way over sold. 

It all shows up in the charts

The VIX is returning to risk on mode with the insiders taking off insurance.

Many have asked if this is a real bounce or just a dead cat. To that I point out OBV that remains strong. The insiders are buying as long as this red line keeps up.

One thing that had me deeply worried was the the NYSE high low was so damaged, well this week back it jumped. We are well into all clear, risk on.

So are there any concerns? yes, it is true that small caps were la…

October 18, 2014 – Weekend Market Comment

October 10, 2014 – OK folks I will appoligise from the start, I am in Europe and I left my laptop at home. The good news is I did not bust my back comuting on the London Underground but the bad news is the quality of what I can show you will  be impared for a month.

U.S. stocks rallied on Friday, softening a fourth week of losses, as investors bet on further stimulus from central banks and corporations including General Electric and Morgan Stanley reported profits that topped expectations. Scaling back after a 310-point jump, the Dow Jones Industrial Average rallied 263.17 points, or 1.6 percent, to 16,380.41, with UnitedHealth Group leading blue-chip gains that extended to all 30 components. Halting a six-session decline, the Dow lost 1 percent for the week. Posting its longest weekly loss streak since August 2011, the S&P 500 added 24 points, or 1.3 percent, to 1,886.76, with industrials the best performing of its 10 major sectors, all of which advanced. The Nasdaq climbed 41.0…

October 10, 2014 – Weekend Market Comment

October 10, 2014 – U.S. stocks fell sharply on Friday, with benchmark indexes falling for a third week in a row. Down 3.1 percent on the week, and up 3.1 percent for the year, the S&P 500 dropped 22.08 points, or 1.2 percent, to 1,906.13, with technology hardest hit and utilities faring best among its 10 major sectors. The Nasdaq declined 102.10 points, or 2.3 percent, to 4,276.24, leaving it off 2.3 percent on the week and up 2.4 percent on the year. For every share rising, nearly four fell on the New York Stock Exchange, where nearly 949 million shares traded. Composite volume cleared 4.5 billion. On the New York Mercantile Exchange, crude futures for November delivery turned higher, up 23 cents, or 0.3 percent, at $86 a barrel and the December gold contract fell $3.60, or 0.3 percent, to $1,221.70 an ounce.

Adding insult to injury after the bell on Thursday was a revenue warning from the CEO at Microchip Technolog. With the Fed going away, and the slowdown in Europe, the marke…

October 4, 2014 – Weekend Market Comment

October 4, 2014 – U.S. stocks surged on Friday, with the Dow industrials jumping 200-plus points, after a better-than-projected payrolls report bolstered a positive view of the U.S. economy.

Folks we couldn't ask for a better-looking U.S. jobs report. The market had been getting a bit frazzled; this is the kind of report that eases those concerns. As I have been showing you recently we are seeing an acceleration in jobs growth makes the  Federal Reserve officials very comfortable ending quantitative easing later this month, The government reported the U.S. jobless rate fell to 5.9 percent in September and companies added 248,000 in payrolls after a 180,000 hike the prior month, more than previously estimated. Here is Non-Farm payroll now well past the 2007 peak:

Halting a four-session streak of losses, the Dow Jones Industrial Average jumped as much as 226 points, and finished up 208.64 points, or 1.2 percent, to 17,009.69, with Goldman Sachs Group leading blue-chip gains that ex…