rom Tom Harvey – author and Cyrus Uible – technical guru.
Stocks moved up today, ending the week about even.
Bonds, on the other hand, continued its move upward in interest rates – and this is what drove most markets today. Inflation is the word. Inflation drives interest rates up.
Oil was talked down slightly, but ended around [...]
From Tom Harvey – author and Cyrus Uible – technical guru.
Stocks took up the volatility wand today, and dropped 206 points. The Dow is approaching the bottom of it’s trading range of about 11,800, and if it drops through that, it will enter a new range, and show all of us we’re in a real [...]
From Tom Harvey – author and Cyrus Uible – technical guru.
Don’t let anyone tell you that volatility is leaving the market, and things are settling down to the “good old days” of calm markets. Volatility is alive and well. Today’s moves were in the bond market and the Dollar market.
While stocks moved sideways, bonds made [...]
Did you ever wonder what would happen the next day to a market that was a BIG MOVER, like the one last Friday? Well, today was a perfect example. All the big movers (except Gold) pulled back a little from their big move. They didn’t move back all the way, just a little ways. Gold [...]
Wow, what a day of market activity. Oil took off and broke all records – the biggest increase in one day (over $10) and a NEW HIGH of $138.54. Gasoline just tagged along for the wild ride.
The Dollar took it in the ear when oil took off. The Euro jumped over 2 cents today, and [...]
The markets were where the action was today. Here the market story. ECB Chairman Trichet said today that he was really worried about inflation, and it might be necessary to raise interest rates this year. (When Euro rates go up, and US rates stay the same – the likely situation – then it’s better to [...]
Stocks moved sideways today, but worry crossed the market as rumors about Lehman Bros. spread like a wildfire.
Bonds increased in interest rates as Bernanke jawboned about inflation. In fact, in a speech about 1970 inflation, he mentioned the word inflation 29 times. You can bet this was purposeful, while not being direct about today’s problems.
The [...]
Stocks continued their decline today, dropping 101 points. This was mostly caused by concern that Lehman Bros needs to raise billions; but Lehman refuted the charge printed in the Wall St. Journal.
Bonds continued their interest rate decline, ending at 3.90% – a nice gain in price. This too was driven by the Lehman Bros. story [...]
Stocks fell all day, and regain a small amount of their loss at the end of the day, ending down 135 points. The bad news was that key financial companies (think Lehman, Merrill and Morgan Stanley) got downgraded by Standard and Poor’s rating company. This caused nervousness that another shoe may drop in the financial [...]