Archive for April, 2010
World Federation of Exchanges and the International Options Market Association Assemble Exchange and Clearinghouse Leaders at the NASDAQ MarketSite to Discuss Coordination of International Regulatory
World Federation of Exchanges and the International Options Market Association Assemble Exchange and Clearinghouse Leaders at the NASDAQ MarketSite to Discuss Coordination of International Regulatory
Buy the Rumor - Sell the News. Stocks Decline After Beating Estimates.
This morning, the market is pulling back after a great round of earnings news. The weakness started last night when Google posted results. It handily beat estimates and the stock dropped $25. Bank Of America, Intuitive Surgical, AMD and General Electric all beat estimates. All four stocks are trading lower this morning. Similar to the pattern we saw in October and January, stocks are selling off after releasing results. This decline is tradable, but I don’t believe the move will be sustained. In November and February, the market rebounded towards the end of earnings season. Stocks are priced for great results …
Enjoy This Tax Day! Taxes Are Going Up. Someone Has To Pay For This Party.
The market continues to grind higher. The news has been “friendly” and prices have moved upward ahead of earnings releases. Early in the week, Greece held a bond auction in hopes of avoiding the bailout package extended by the EU and IMF. The bond offering was successful, but interest rates in Greece jumped higher. Large Asset Managers like PIMCO feel that the risk is high and Greece has not done enough to reduce deficits. Surprisingly, Portugal held a successful €2 billion 10-year auction. The PIIGS will issue €400 billion in debt in the next few months and this large supply of …
Market Rallies On - Great Earnings, Strong Econ Data, Good Euro Bond Auction and Low Interest Rates!
This morning, the market is moving higher on an excellent round of news. The S&P 500 has broken out above 1200 and the Dow is above 11,000. Intel beat estimates and gave strong guidance. This morning, J.P. Morgan Chase blew away estimates and referenced a strong economic recovery. CSX said that shipping volumes are improving. Each of these stocks moved through resistance, but they have pulled back slightly from their highs of the day. This morning, the CPI rose .1% and it was benign. Inflation is not an issue and it will not put upward pressure on interest rates. Retail sales …
Buy the Rumor - Sell the News. Intel is On Deck. Watch the European Bond Auctions!
Yesterday, the market staged a half-hearted rally after Greece secured €40 billion in aid from the EU. This credit crisis has been weighing on the market and it could have sparked a bigger rally than it did. “Merger Mondays” have been very bullish and the market also had that working in its favor. Overnight, Greece held a bond auction prior to accepting the aid. It wanted to test the market and gauge demand for its debt. The offering was oversubscribed, but yields jumped. The signal was mixed. The market will buy Greek bonds if the yield is sufficiently high. Greece can …