A Few Dollars More

This wasn’t supposed to happen. The week before Labor Day is notoriously slow with few, if any gains or losses for the week, but somebody forgot to tell that to the markets. It would appear from the upside action that we are once again going to run the S&P 500 Index back to the top [...]

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The markets were so oversold by Friday that even a hint of positive news was enough to send stocks higher. The trigger was the revision downward of the nation’s gross domestic product to 1.6% for the second quarter. The initial GDP reading had been 2.4%.

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I’ve got a lot of respect for the bond market. After all, it’s much bigger than the stock market with a lot more money riding on making the right call on the markets. It is truly the Big Dog while we in the equity markets are the tail. Recently, bond prices have shot up while [...]

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Bulls gave it their best shot last week but it wasn’t good enough. No matter how much they tried, they just couldn’t break that 1,130 level on the S&P 500 Index. And like jilted lovers, all the averages retreated in frustration. The question is how long will this range-bound market continue?

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“These markets are making me dizzy,” exclaimed one retired investor who, against my advice, insists on watching CNBC all day.

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It was beautiful to behold. Stocks could do no wrong for seven straight days. The markets soared with the S&P 500 gaining 7% and the NASDAQ rising even more. That is until Friday.

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It was a good week for investors as global markets bounced to the tune of 3-4% overall. Of course, don’t look for an underlying reason for such a big move. It was simply a technical exercise that one can normally expect after a prolonged decline.

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The stock market is down 10% over the last nine days from peak to trough. That kind of move can rattle investors and trigger a bearish psychology that can play havoc with your emotions. It’s time to keep this market in perspective.

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One week up, the next down, with nary a profit to be found over the last two months. Unfortunately, I see more of the same ahead of us. The bottom won’t be in until investors throw in the towel. It will require fear, panic and a bit of loathing among global investors. Obviously, we have [...]

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After the S&P 500 Index’s sharp 5% bounce, gains have been tougher to come by this week although the index still put together a 2% move higher. The bulls are loving that and expect even more upside in the coming week.

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