News: The sell-off continued yesterday. The Nasdaq and Russell 2000 declined more than 4% each. Every major index made a new 52-week low. Energy, the last hot industry, was the worst performer, falling about 8% as oil fell but held above $100/barrel. Bitcoin^ reached $30,000. Which is also the 2021 low. I’m watching to see …
News: Last week we welcomed May and the beginning of the worst six months. The Fed upped interest rates by 0.5%, as expected. It also dismissed the possibility of sharper rate hikes in the near future. Jobs numbers we generally positive. New jobs are being created, new unemployment filings are low, and wages are growing …
Here’s what a typical buyout looks like on a stock chart… Typically after a deal‘s announced, the stock price jumps to the buyout price. Then it continues to trade in a tight range near that price until the deal is complete. And here’s Twitter’s (TWTR) chart… Notice the difference? There is no tight range… And …
5 Times The Media Screwed Up While Reporting on Elon Musk’s Twitter Deal Read More »
News: Wednesday’s post-FOMC rally was wiped out in the first hour of trading. Yesterday the markets resumed their freefall, the Nasdaq was the worst performer declining 5%. Earning losers got hit the hardest. Most notably, Wayfair (W) lost 26% and Etsy (ETSY) fell 17%. Technicals: The put-to-call ratio is still oversold. That’s day 11 now… …
5/6/22 The Great Bull Trap! And What 1970 Tells Us… Read More »
News: Yesterday the Fed announced a 0.5% increase in short-term interest rates. The decision was unanimous. It is the biggest single rate hike since 2000. Inflation, I need not remind you, it at a 40-year high. The Fed also plans to begin reducing its $9 trillion balance sheet at a rate of about $48 billion …
News: Markets moved sideways yesterday as the Fed began its two-day FOMC meeting. At the close, all of the indexes were in positive territory. The Russell 2000 led the way with a gain of 0.8%. Earnings reports continue to pour. Some positive like Advanced Micro Devices (AMD) rising 6% on a positive report. But disappointing …
News: Monday the markets went on a wild ride. The S&P 500 sank nearly 2% through the morning and lunchtime. But in the final hour bargain hunters began snatching up discounts and the markets closed solidly in the green. The Nasdaq was the leader again, advancing 1.6% while the Dow brought up the rear with …
News: Friday’s losses capped a dismal month. The Nasdaq led the decline losing 4.2% on the day… The selling ended one of the worst Aprils on record. Here’s how the indexes performed… Dow Jones Industrial Average -4.9% S&P 500 -8.7% Russell 2000 -10.0% Nasdaq Composite -13.3% It was the Nasdaq’s worst month since 2008. It …
