Probably not, but maybe.
Money Daily is still experiencing computer issues, but a new computer is due to arrive by January 31.
Our apologies.
Dow 13,881.93, -14.05 (0.10%)
NASDAQ 3,154.30, +4.59(0.15%)
S&P 500 1,500.18, -2.78 (0.18%)
NYSE Composite 8,880.01, -24.51 (0.28%)
NASDAQ Volume 1,868,661,625
NYSE Volume 3,562,544,250
Combined NYSE & NASDAQ Advance - Decline: 3084-3392
Combined NYSE & NASDAQ New highs - New lows: 535-28
WTI crude oil: 96.44, +0.56
Gold: 1,652.90, -3.70
Silver: 30.78, -0.426
Monday, January 28, 2013
Friday, January 25, 2013
Stocks at Multi-Year Highs: Tide Detergent as Currency
The S&P closed today at it's highest level since the fall of 2007, a more than five-year-high, breaching the psychological 1500 level at the close of trading. That left the S&P with an eight-day winning streak, the longest since 2004, prompting claims by pundits and analysts that the market was just beginning a new supercycle bull market.
All snickering aside, a massive bull run on top of what has been one of the longest straight-up bull markets without a significant, sustained correction (46 months and counting), is a call that only the masters of the money universe on Wall Street could make with a straight face.
Whatever side of the trade you're on - and if you're short, you're dead - there's little doubt that four years of ZIRP and constant money printing by the Federal Reserve has finally yielded the desired results" a runaway risk asset market in stocks forcing forgetfulness about risk and the all-time high in consumer credit. The new bubble has been blown and American consumers are seemingly content to blow it until it bursts.
Coupled with the nascent recovery in housing, stocks as an asset class have proven the darlings of hedge funds, pension funds and evryone except the individual investor, whose memory still appears to be focused on the crash of 2008 and continuing uncertainty in the general economy.
Like it or not, however, Wall Street is enjoying one of the best runs of increases ever - not just this January, but throughout the four-plus years since the painful crash.
It's enough to prompt the fearful to get back in the game, though, with indices approaching all-time highs, it just doesn't seem a prudent entry point.
And, just in case you're not up on ghetto culture, laundry detergent - specifically Tide, made by Proctor & Gamble - has become the new currency of choice, a 150-ounce bottle redeemable on the street for $5 cash or $10 worth of weed or crack cocaine.
In the right circles, America's most popular detergent goes by the moniker, "liquid gold," and a crime spree of national magnitude has retailers locking down bottles of the stuff and putting additional security guards on patrol in the aisles.
Dow 13,895.98, +70.65(0.51%)
NASDAQ 3,149.71, +19.33(0.62%)
S&P 500 1,502.96, +8.14(0.54%)
NYSE Composite 8,904.53, +47.95(0.54%)
NASDAQ Volume 1,932,190,500
NYSE Volume 3,653,707,000
Combined NYSE & NASDAQ Advance - Decline: 3788-2649
Combined NYSE & NASDAQ New highs - New lows: 540-21
WTI crude oil: 95.88, -0.07
Gold: 1,656.60, -13.30
Silver: 31.21, -0.516
All snickering aside, a massive bull run on top of what has been one of the longest straight-up bull markets without a significant, sustained correction (46 months and counting), is a call that only the masters of the money universe on Wall Street could make with a straight face.
Whatever side of the trade you're on - and if you're short, you're dead - there's little doubt that four years of ZIRP and constant money printing by the Federal Reserve has finally yielded the desired results" a runaway risk asset market in stocks forcing forgetfulness about risk and the all-time high in consumer credit. The new bubble has been blown and American consumers are seemingly content to blow it until it bursts.
Coupled with the nascent recovery in housing, stocks as an asset class have proven the darlings of hedge funds, pension funds and evryone except the individual investor, whose memory still appears to be focused on the crash of 2008 and continuing uncertainty in the general economy.
Like it or not, however, Wall Street is enjoying one of the best runs of increases ever - not just this January, but throughout the four-plus years since the painful crash.
It's enough to prompt the fearful to get back in the game, though, with indices approaching all-time highs, it just doesn't seem a prudent entry point.
And, just in case you're not up on ghetto culture, laundry detergent - specifically Tide, made by Proctor & Gamble - has become the new currency of choice, a 150-ounce bottle redeemable on the street for $5 cash or $10 worth of weed or crack cocaine.
In the right circles, America's most popular detergent goes by the moniker, "liquid gold," and a crime spree of national magnitude has retailers locking down bottles of the stuff and putting additional security guards on patrol in the aisles.
Dow 13,895.98, +70.65(0.51%)
NASDAQ 3,149.71, +19.33(0.62%)
S&P 500 1,502.96, +8.14(0.54%)
NYSE Composite 8,904.53, +47.95(0.54%)
NASDAQ Volume 1,932,190,500
NYSE Volume 3,653,707,000
Combined NYSE & NASDAQ Advance - Decline: 3788-2649
Combined NYSE & NASDAQ New highs - New lows: 540-21
WTI crude oil: 95.88, -0.07
Gold: 1,656.60, -13.30
Silver: 31.21, -0.516
Thursday, January 24, 2013
Dow Pushes Higher Again; S&P on 7-Day Win Streak
Dow up again, sixth day in a row. S&P eked out the narrowest of possible gains to extend its winning streak to seven straight, the most since 2006. NASDAQ down due to Apple being hammered.
That's it. Play nice.
Dow 13,825.33, +46.00 (0.33%)
NASDAQ 3,130.38, -23.29 (0.74%)
S&P 500 1,494.82, +0.01 (0.00%)
NYSE Composite 8,856.59, +27.93 (0.32%)
NASDAQ Volume 2,049,702,125
NYSE Volume 3,998,358,000
Combined NYSE & NASDAQ Advance - Decline: 3592-2854
Combined NYSE & NASDAQ New highs - New lows: 667-18
WTI crude oil: 95.95, +0.72
Gold: 1,669.90, -16.80
Silver: 31.72, -0.717
That's it. Play nice.
Dow 13,825.33, +46.00 (0.33%)
NASDAQ 3,130.38, -23.29 (0.74%)
S&P 500 1,494.82, +0.01 (0.00%)
NYSE Composite 8,856.59, +27.93 (0.32%)
NASDAQ Volume 2,049,702,125
NYSE Volume 3,998,358,000
Combined NYSE & NASDAQ Advance - Decline: 3592-2854
Combined NYSE & NASDAQ New highs - New lows: 667-18
WTI crude oil: 95.95, +0.72
Gold: 1,669.90, -16.80
Silver: 31.72, -0.717
Wednesday, January 23, 2013
Dow Continues to Power Higher; Apple Cored After Hours
Editor's Note: Apologies for not posting yesterday. We had a major crash of our main computer on Sunday and have been working off a partially-impaired computer since, making life difficult and blogging an excursion into 1990s computing. A bew computer (due to arrive by Monday) should get everything back to normal within a few days.
Stocks keep climbing on hopes that the congress and the president can resolve their debt ceiling differences by passing a temporary extension (read: kicking can a bit down the road) and promising to get serious long before their May deadline (we will believe that when we see it).
The House passed the bill paving the way for an extension of the debt limit until May 19, when it will be reset to reflect additional borrowing through the interim period, voting overwhelmingly in favor across party lines, 285-144.
On Tuesday, existing haome sales came in below forecast, at 4.94M, on expectations of 5.10M (annualized). Not to worry, stocks put in another day of gains.
The Dow was the big winner today, thanks almost entirely to IBM, even though Big Blue has made the bulk of its profits over the past two years by buying back shares, thus reducing the number of shares available and making the EPS number more palatable.
Only 12 stocks on the Dow were up, compared to 17 closing in the red. Coca-Cola (KO) finished unchanged.
McDonald's reports that profits in the US were highly correlated to sales off its dollar menu, implying that either the American pallet enjoys the cheaper menu items or the American wallet is not very well-filled these days.
Apparently, not everyone is convinced that the only thing that matters is what happens in Washington. The NYSE Composite closed lower on the session.
So far in 2013, Dow Jones Industrials have finished higher on 11 of 16 trading days, including the last four straight. The average is up a whopping 675 points, roughly a five percent gain, which, in more normal times, might be good for a full year.
Caution is advised, though with the Fed pumping liquidity with every last ounce of reserve (no pun intended), the chances are that any pullback will be temporary and short-lived.
After hours, shares of Apple (AAPL) were slashed, as the company reported flat earnings per share on increased revenue (18%) year-over-year. The stock was down nearly five percent, falling below the 500 level once again.
Dow 13,779.17, +66.96(0.49%)
NASDAQ 3,153.67, +10.49(0.33%)
S&P 500 1,494.78, -2.22(0.15%)
NYSE Composite 8,828.35, -4.40 (0.05%)
NASDAQ Volume 1,687,925,130
NYSE Volume 3,764,679,750
Combined NYSE & NASDAQ Advance - Decline: 2909-3504
Combined NYSE & NASDAQ New highs - New lows: 510-10
WTI crude oil: 95.23, -1.45
Gold: 1,686.70, -6.50
Silver: 32.44, +0.262
Stocks keep climbing on hopes that the congress and the president can resolve their debt ceiling differences by passing a temporary extension (read: kicking can a bit down the road) and promising to get serious long before their May deadline (we will believe that when we see it).
The House passed the bill paving the way for an extension of the debt limit until May 19, when it will be reset to reflect additional borrowing through the interim period, voting overwhelmingly in favor across party lines, 285-144.
On Tuesday, existing haome sales came in below forecast, at 4.94M, on expectations of 5.10M (annualized). Not to worry, stocks put in another day of gains.
The Dow was the big winner today, thanks almost entirely to IBM, even though Big Blue has made the bulk of its profits over the past two years by buying back shares, thus reducing the number of shares available and making the EPS number more palatable.
Only 12 stocks on the Dow were up, compared to 17 closing in the red. Coca-Cola (KO) finished unchanged.
McDonald's reports that profits in the US were highly correlated to sales off its dollar menu, implying that either the American pallet enjoys the cheaper menu items or the American wallet is not very well-filled these days.
Apparently, not everyone is convinced that the only thing that matters is what happens in Washington. The NYSE Composite closed lower on the session.
So far in 2013, Dow Jones Industrials have finished higher on 11 of 16 trading days, including the last four straight. The average is up a whopping 675 points, roughly a five percent gain, which, in more normal times, might be good for a full year.
Caution is advised, though with the Fed pumping liquidity with every last ounce of reserve (no pun intended), the chances are that any pullback will be temporary and short-lived.
After hours, shares of Apple (AAPL) were slashed, as the company reported flat earnings per share on increased revenue (18%) year-over-year. The stock was down nearly five percent, falling below the 500 level once again.
Dow 13,779.17, +66.96(0.49%)
NASDAQ 3,153.67, +10.49(0.33%)
S&P 500 1,494.78, -2.22(0.15%)
NYSE Composite 8,828.35, -4.40 (0.05%)
NASDAQ Volume 1,687,925,130
NYSE Volume 3,764,679,750
Combined NYSE & NASDAQ Advance - Decline: 2909-3504
Combined NYSE & NASDAQ New highs - New lows: 510-10
WTI crude oil: 95.23, -1.45
Gold: 1,686.70, -6.50
Silver: 32.44, +0.262
Friday, January 18, 2013
Stocks Ramp Higher as Fed Keeps Pumping Full On
What we have here is a self-reinforcing mechanism.
As long as the Fed keeps buying treasuries and MBS, don't expect stocks to do anything but continue going straight up. Those who have 401Ks, mutual funds, individual stocks, ETFs, etc., can rest easy. The Fed has your back.
For everyone else, tough cookies (and higher prices for them). Simply amazing.
Monday is Martin Luther King Day. Markets are closed.
Dow 13,649.70, +53.68 (0.39%)
NASDAQ 3,134.71, -1.29 (0.04%)
S&P 500 1,485.98, +5.04 (0.34%)
NYSE Composite 8,792.58, +26.03 (0.30%)
NASDAQ Volume 1,861,060,250
NYSE Volume 4,018,652,250
Combined NYSE & NASDAQ Advance - Decline: 3764-2612
Combined NYSE & NASDAQ New highs - New lows: 453-13
WTI crude oil: 95.56, +0.07
Gold: 1,687.00, -3.80
Silver: 31.93, +0.122
As long as the Fed keeps buying treasuries and MBS, don't expect stocks to do anything but continue going straight up. Those who have 401Ks, mutual funds, individual stocks, ETFs, etc., can rest easy. The Fed has your back.
For everyone else, tough cookies (and higher prices for them). Simply amazing.
Monday is Martin Luther King Day. Markets are closed.
Dow 13,649.70, +53.68 (0.39%)
NASDAQ 3,134.71, -1.29 (0.04%)
S&P 500 1,485.98, +5.04 (0.34%)
NYSE Composite 8,792.58, +26.03 (0.30%)
NASDAQ Volume 1,861,060,250
NYSE Volume 4,018,652,250
Combined NYSE & NASDAQ Advance - Decline: 3764-2612
Combined NYSE & NASDAQ New highs - New lows: 453-13
WTI crude oil: 95.56, +0.07
Gold: 1,687.00, -3.80
Silver: 31.93, +0.122
Subscribe to:
Posts (Atom)
Posts
