The weeks leading into Labor Day are historically quiet. To write the obvious, the last three weeks have been nothing but quiet. The must owned names are imploding. Oil was crushed then staged a 3 day 27% rally, the greatest since the Kuwaiti...
Many times I have commented about the velocity of change and to expect the unexpected. Equities had their worst month since May 2012 as the most owned momentum stocks imploded sending some issues down almost 30% in a few weeks.
...Friday was a relatively uneventful day, a very welcomed day given the intense volatility experienced during the past two weeks....
The carnage has been great. CNBC reports 96% of S & P 500 stocks are in “correction territory” defined as declining between 10% and 19.9% for the year and 51% are in bear market territory defined as dropping over 20% YTD....
Wow! Yesterday the S & P 500 had the biggest point reversal since October 2008. The S & P 500 was up 2.9% in early morning trading only to end about 1.30% lower with massive selling in the final hour of trading. In my view...
Many times I have opined the cheapest execution cost is most often the most expensive decision. Yesterday’s volatility was deafening....
Early last week I opined the status quo was on the verge of major change. Little did I know how prophetic my words would have become? Since that statement; the Dow has plunged over 1000 points, there have been several high profile devaluations that are...
Global growth scares are really spooking the markets. Kazakhstan, central Asia’s biggest crude exporter, devalued. Bloomberg reports according to the futures markets, the odds of a Saudi devaluation are now the highest since March 2003. [Note: Most Middle Eastern currencies are pegged to the dollar]....
I received considerable feedback with my comment that it feels as though a major change is about to occur. Is this really a radical statement? Interest rates are expected to rise for the first time in nine years....
Today the Minutes from the July FOMC meeting are released. As noted yesterday, the economic landscape is different today than that of three weeks ago. Housing and autos are showing considerable strength. China has devalued. Oil has plunged, falling by a record amount in July. ...