Traders Take An Extra Day Off; Stocks Dance Around And Close Basically Flat, On Slightly Higher Volume.

April 10, 2007 | Leave a Comment

Stock investors returned from a long three-day Easter weekend to a very inactive market. Even though trading was pretty wild, choppy and volatile today, the market still traded in a very narrow range and basically did not move from Thursday’s close. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Stock Indexes Follow-Through On Day Six Of Rally Attempt; Something Seems Wrong About This Follow-Through

March 22, 2007 | Leave a Comment

Stocks were boring and dead all day long, until 2:15pm when the Fed announced their decision on interest rates. When that happened, stocks exploded to the upside, destroying shorts in the process. The party was not started based on the decision, as everyone expected rates to stay at 5.25%. The fireworks erupted because the Fed left out the hawkish comments and adopted a more neutral rate policy. That sparked non-stop buying on strong volume, into the close.

Posted by Joshua Hayes | Filed Under Free Commentary

Stocks Rally For Second Straight Day, On Lower To Flat Volume; Funds Still Have No Interest In This Market

March 20, 2007 | Leave a Comment

It was another day of light gains, for the stock market. However, today, had a bit more of a steady bullish bias to it, unlike yesterday, as big-cap indexes closed near their HOD. The good news for stocks came on the back of a better-than-expected housing starts number for February. That number was up 9% for the month, which is much better than the 14% drop in January. The bad news, in that mix, came from building permits as they fell again by 2.5%. The other positives effecting stocks was M & A activity. The news that CYTC is making a full bid for ADZA and that PALM might receive a bid for its business might have had a positive impact on stocks. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Small Caps Lead But Nasdaq Almost Completes A Nasty Round Trip.

January 23, 2007 | Leave a Comment

Stocks were looking very strong today until an afternoon selloff wiped away almost all of the gains. The sell-off started after news that President Bush stated that he would try to double the Strategic Petroleum Reserve as a hedge to supply disruptions. I interpret this to mean that a conflict with Iran will mean a disruption in supply. However, by the close all indexes escaped with positive closes. Read more

Posted by Joshua Hayes | Filed Under Free Commentary