October 2008 will be a month that stock markets worldwide will want to forget quickly.  However, U.S. stocks closed the week on a high note, with solid gains across the major averages.  We are now in a decent short term uptrend, and if we can break above the October 14 highs and close there, we should […]

The stock market enjoyed its second last hour rally of the week today, suggesting that the underlying tone of the market is improving.  The market rallied in spite of a weak GDP report this morning, particularly in regard to consumer spending.  The report indicated that the U.S. economy contracted by 0.3% in the third quarter.  […]

First of all, THE PHILLIES WIN THE WORLD SERIES!  Yeah!  As a long time Baltimore Oriole fan, I jumped on the Phils bandwagon the last couple of years, since I had nothing to root for since Cal retired.  Got to love this Phillies team!  They play hard and play as a team!
 Now, back to the […]

U.S. Stocks surged to 10% gains today, in spite of some weak economic data reported in the morning.  Stocks were called to open higher due to strong markets overnight in Asia and Europe in the morning.  However, 30 minutes after the open, Consumer Confidence figures were reported at their lowest levels since the 1973-74 recession.  […]

In my commentary last night, I indicated that if there was no blow off bottom, the market might just spike higher one day when the sellers are done selling.  Well, that appears to have been the case.  Now, before we call a bottom in the stock market, we need to see a big follow through […]

Stock Index Futures are up sharply this morning on the back of a strong move up in Asian and European markets overnight and so far this morning.  This is ahead of 2 day Federal Reserve Bank meeting that will be conducted starting today. 
As I write this as of 7:15 am ET, S&P 500 futures are […]

Once again, the stock market sold off in the last hour to finish with better than 2% losses in the major averages.  Early in the morning, stock index futures were trading much lower ahead of the open, but gradually began to move up just before the open.  After the market opened, September new home sales […]

The U.S. Stock Market appears to be headed to a very weak open Monday morning on the heels of weak markets across the globe overnight.  The Nikkei average in Japan has traded at a 26 year low overnight.  That’s right, A 26 YEAR LOW!  The continued unraveling of the Yen carry trade, resulting in money […]

Monday is a huge day for the stock market.  If this market is going to begin going higher, it must begin on Monday.  Another down day will essentially mean the downtrend will continue.  The overall trading pattern points lower if the markets close below the intraday lows set earlier this month.  However, it does appear […]

…it could have been worse!  Still, if you are a trader/investor with a short term time horizon, you should consider exiting long positions or hedging your bets with shorts.  This market closed at new weekly low closes today on Friday, not a positive sign.  Quite frankly, I wish we would have had a 1,500 point […]