Stocks spent the whole day way up, but gave up over half of its gain at the end of the day, ending up 87 points. This was the best month in stocks in a very long time.
Bonds moved sideways.
The Dollar lost some ground today.
Oil and gasoline gained a little.
Gold gained $7 today – a nice [...]
Stocks retraced their loss from yesterday – almost. The bears are taking their profits.
Bonds moved sideways, and the Dollar lost some ground.
Oil and gasoline moved a little higher, on the higher stock market.
Gold lost $26 today as profit taking hit the market, and people took some of their gains off the table.
In the news today…..
Consumer [...]
Well, the election results are in and Senator Obama will be our next President. Stock celebrated by taking profits from yesterday, and ended down 486 points. Bonds continued their increase in value (lowering of interest rates).The Dollar stayed still, and Gold fell $15 – it’s still a spectacular buy.
Oil and gasoline both fell in price [...]
Stocks showed amazing volatility starting up several hundred points, falling to negative several hundred points, and ending up 401 points. Wow – how would you like to trade with that much volatility going on? The news wall all negative – so the action was driven by irrational thinking – not facts.
Bonds remained faithful to the [...]
The stock market has spoken. Everyone was so happy last Monday when stocks surged – so fast, and so far – a record amount. In the last two days, the stock market has lost over 800 points. This is tragic news for people who are depending on increasing stock prices to maintain their retirement, or [...]
All markets moved sideways today waiting with baited breath to see what’s going to happen with the bailout.
In the news today….
The main news today was that Congress rejected the Paulson/Bernanke $700B bailout plan. Sen. McCain stopped his campaign to work on the bailout exclusively – even cancelling Friday’s debate. Sen. Obama said he would work [...]
Stocks corrected from yesterday’s big up by having a big down, down 171 points. All other markets moved sideways.
In the news today….
Personal Income in July was down 0.7%, and this is a bigger deal than the number would suggest. Personal Income has been falling over the past 3 months, and this is bad news for [...]
Stocks jumped up 213 points today on the GDP report for the 2nd Quarter. As usual stocks were acting irrationally, but what do you expect. You cannot count on rational stock movement day to day. Bonds moved slightly in sympathy with a slight upward bias in interest rates.
Gasoline and oil jumped up as the oil [...]
Stocks continued their slide downward today by shedding another 110 points. Bonds sort of made up for yesterday’s crazy rally by giving up a little value, and increasing interest rates. The Dollar went sideways except against the Yen where it lost value.
Gold gained back $17 – but, I think there will be further falls in [...]
Stocks fell as the pundits thought the financial sector performance looks rather bleak. When the market sees a glimpse of the truth, it reacts correctly. Bonds fell in interest rates. Oil and gasoline rose a little, gold fell, and the dollar gains a little ground.
In the news today…..
AIG, the world’s largest insurance company announced its [...]