U.S. stocks opened sharply lower, and never recovered on Monday, as the Obama administration gives GM 60 days to submit another viable plan to turn itself around, and took it upon itself to fire CEO Rick Wagoner.  Chrysler was given 30 days to finalize a deal with Fiat.  Financial stocks lead the way down, as […]

U.S. Stocks are set to open sharply lower this morning, as financials are showing significant weakness.  Stock markets in Europe and Asia have traded sharply lower over night.  I attribute much of this to the ouster of GM CEO Rick Wagoner, and the Obama administration’s rejection of GM and Chrysler’s restructuring plans.  Treasury Secretary Geithner […]

Today, Treasury Secretary Geithner made the rounds on the Sunday talk shows, and indicated that some banks still need substantial aid.  It was also announced that the Obama administration has asked GM CEO Rick Wagoner to step down.  So now we have the government running banks, insurance companies (AIG) and auto manufacturers.  Soon, if Obama […]

Since the U.S. stock market hit its closing low on March 9th, it has rallied over 20%.  Even prior to the Dow Jones Industrial Average’s 497 point advance on March 23rd, the market had shown significant signs that a nice rally was in force.  Smart investors, who’ve been waiting for a decent opportunity to put […]

U.S. Stocks opened lower and never recovered, but traded in a narrow range today.  This was a classic case of profit taking after a big up week for the major averages.  Volume was very light today, and the averages generally closed near Thursday’s lows. 
With all this in mind, I suspect we will see some more […]

Stock market bulls continue to be in charge of the current market, as the market indexes rose from 2% to 4% on the back of more signs of recovery in the housing market.  Home sales rose 5% in February compared to January, which is no real surprise, since January was an abysmal month.  It was […]

U.S. stocks closed higher after a late day rally concluded a whipsawing day.  The market traded higher early in the morning on the heels of President Obama’s prime time news conference last night.  Later, on remarks regarding the status of the Dollar’s role as the world’s leading currency helped drive the market lower.  However, late […]

Well, considering that I was traveling both last Tuesday and yesterday while the market was making big gains, many people might wish that I had stayed on a plane today!  After yesterday’s nearly 500 point advance in the Dow, it gave back over 100 points today, and the other major averages were distinctly weaker.  As […]

U.S. stocks are set to rally sharply this morning after Treasury Secretary Geithner released more details regarding his plan to deal with the toxic asset issue.  As I write this early Monday morning, S&P futures are up 20 points, or well over 2%. 
Stay tuned!
Scott Cole

At the end of last week we had a modest pullback in the U.S. stock market after a couple weeks worth of big gains that saw the major averages rise over 15% from their recent lows.  We saw the big follow through day we wanted to see that confirmed the recent rally may have some […]