State of the Markets
Staying Seated on Bull Train For Now
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With the election less than 24 hours away, it is safe to say that investors of all shapes and sizes are likely sitting on their hands today. As such, I thought this might be a good opportunity to take a step back and look at the big picture, macro backdrop.
The Election is…
The Time Has Come
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The phrase of the day on this fine summer Friday isn't from any of the politicians seeking our attention 24/7 but rather Fed Chairman Jerome Powell. Giving a highly anticipated speech at the annual Fed confab in Jackson Hole, Mr. Powell told us, "The time has come."
While the mark…
Panic Early Or Not At All!
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As long-time readers are no doubt aware, I spend a healthy amount of my day trying to decipher the drivers of the daily market action. In short, whenever markets start to move quickly, I make it my business to understand why. My thinking is if I can stay in tune with what markets are doin…
We've Seen This Movie Before
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Markets are selling off hard around the world. The press will have you believe the move is due to Friday's jobs report and fear of recession. In my humble opinion, this is absolutely NOT the case.
With the caveat that I am merely expressing my opinion on the matter, I believe the …
Reasons For Summer Rally
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As the misery that was the stock market in April came to a close, investors couldn't be blamed if they were ready to throw up their hands and embrace the old Wall Street adage, "Sell in May and go away!" (More specifically, move to cash on April 30 and return on November 1.) After all, th…
They Were Completely Wrong, But...
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By now, analysts still calling for a recession in the good 'ol USofA definitely find themselves in the minority and maybe even at risk of losing his or her job. At the beginning of last year though, the chorus of those expecting the economy to falter was strong. After all, the Fed was hik…
Stronger For (How Much) Longer?
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By now, everybody on the planet knows that "higher for longer" remains the Fed's primary battle cry. We also know that Jay Powell's merry band of central bankers will be "data dependent" when it comes to charting their next move. "Stay the course," they say. And "we are committed to getti…
Screaming For Attention
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After an impressive string of five consecutive monthly gains, during which the venerable S&P 500 gained an eye-popping 1,060.55 points (or +25.3%) during the November through March period, it now appears that the bears are finally (as in FINALLY!) attempting to get back in the game.
Stick With the Bulls
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Long-time readers know that I tend to hang with the glass-is-at-least-half-full crowd when it comes to the longer-term market outlook. The reasons are simple. First and foremost, stocks move higher over time. Yes, I recognize that this trend, which has largely persisted since trading bega…