Stocks Finally Provide The Confirmation To The March 21st Follow-Through; Nasdaq Leads Market Higher, On Higher Volume

April 3, 2007 | Leave a Comment

Possible good news out of Iran over the release of the 15 hostages, oil prices falling 2% to $64.64 as the result of the possible release, positive foreign market gains in Europe and Asia, and positive news from the housing market was just what the market needed, as stocks gapped higher, held the gains, and rallied into the close to close near their HOD. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Markets Fail Attempted Rally, Falling Across The Board And Closing At Or Near Their LOD; Are Any Of My Readers Surprised? No

March 14, 2007 | Leave a Comment

It was another very ugly day for the stock market as the continuation of non-stop bad news keeps coming out. Today, before the opening bell, it was retail sales coming in at a less than .1% gain, when economist were expecting a .3% gain. That got the day started on the wrong foot but by noon time there was more pain to be delivered. The news that foreclosures rose to a .54% total of all mortgages outstanding, mortgage delinquencies rose to 4.95% of all loans, and that subprime delinquencies rose to 14.4% of all loans sent stock swooning into the close. These poor loan numbers were the worst since mid-2003. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Wild And Choppy Intraday Action Ends With Most Indexes Red; Day Two Of Rally Attempt

March 8, 2007 | Leave a Comment

It was a choppy day today (no surprise here) as stocks opened flat, then fell, the rallied, and then took a last hour nosedive. When it was over, all indexes ended in the red closing near the LOD, except the MidCap 400 index. There was not much in economic news to move the market. The Fed Beige Book showed modest growth in the economy, with 3 out of 12 districts slowing down. This lack of econ news kept the market in a benign trading range that led to a last hour selloff that killed a possible green close. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Quadruple Witching Turns Out To Be Quadruple Boring.

December 15, 2006 | Leave a Comment

Stocks closed the week up for the third straight session, with the help of a kind inflation data. The CPI came in unchanged from a month ago and that helped lift stocks higher. But after stocks hit their highs of the day around 11am EST, they basically drifted lower for the rest of the session closing with small gains.

Posted by Joshua Hayes | Filed Under Free Commentary