HAPPY EASTER!!!, HAPPY GOOD FRIDAY!!!, AND HAPPY PESACH (PASSOVER)!!!; Stocks End Short Week With More Gains On Light Trade

April 7, 2007 | Leave a Comment

Stocks started the morning off with a gap lower on the back of a currency tightening measures in China. But after the gap lower, stocks steadily climbed higher on very quiet trade for the rest of the day. That reversal off the gap lower was caused by the Labor Department announcing that jobless claims this week fell within forecast. Those jobless claims this week rose by 11,000 to 321,000.

Posted by Joshua Hayes | Filed Under Free Commentary

HAPPY EASTER!!!, HAPPY GOOD FRIDAY!!!, AND HAPPY PESACH (PASSOVER)!!!; Stocks End Short Week With More Gains On Light Trade

April 6, 2007 | Leave a Comment

Posted by Joshua Hayes | Filed Under Free Commentary

Bullish Intraday Reversal, Helps Stocks Avoid Another Possible Ugly Day; Stock Indexes Close Higher On Lower Volume

March 29, 2007 | Leave a Comment

A bullish Q4 GDP final revision higher to 2.5% from 2.2%, along with jobless claims falling for the fourth week in a row, helped start stocks off on a very bullish foot before the opening bell. But soon after the opening bell, stocks trended lower all day until a strong late afternoon rally sent stocks up into the closing bell with the SP 500 even closing near its HOD. This reversal in the face of rising oil to six-month highs of over $66 a barrel and gasoline future to eight month highs at $2.1355, due to the tension between Iran and the free-world, has to be considered very impressive. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Stocks Finish Slightly Higher, On Lower Volume; Merger & Acquistions Trump Terrible Economic Numbers

March 15, 2007 | Leave a Comment

Stocks finished slightly higher, today, after a barrage of economic data, mergers & acquisitions, and even a scare from Alan Greenspan warning of the subprime loan sector spilling over and effecting other areas of the economy (people didn’t know that would happen?). However, the gains weren’t that impressive as a choppy day of trading had very little volume behind it. At the start of the day, the Philly Fed index came in with a disappointing 1.9 reading, the Empire Manufacturing index came in with a disappointing 1.85 reading, and the Employment Index came in with a -2.3. Jobless claims also jumped to 12,000. That was 4 times more than expected. To go along with that, the PPI almost doubled in February with a 1.3% gain. Analyst expected a jump of .6%. So we had terrible economic numbers along with an inflation scare that caused traders to talk about the Fed raising rates. That of course is the worst scenario possible. We call that stagflation. There is nothing worse than stagflation. Read more

Posted by Joshua Hayes | Filed Under Free Commentary