Friends If you want to understand why the financial markets are difficult to oversee and why Congress has such a difficult time designing legislation to do so, today’s Committee on Financial Services zoom testimony with the GameStop situation players was essential to that education. Simply put, very few of the folks asking questions have a clue as to the […]
The get rich quick crowd gathered on Reddit and was having quite the party. There was no stopping the game that they were playing with stock in GameStop. But, like at the stroke of midnight, if you don’t pay the band the music stops. And, yesterday it got quiet. Quiet like the inside of GameStop …
Friends Despite some good earnings reports, such as the one delivered by Microsoft after the close yesterday, stocks just could not overcome the wave of disturbing news concerning the coronavirus continuing to blow up in the U.S. and Europe. Add to that, that this week saw the possibility of a stimulus deal before the election go out the window, […]
Friends Despite more encouraging news on the vaccine front, stocks were struggling through the early part of the trading session. But, as the day wore on, the bulls got a little more interested and by the close stocks had posted decent gains. The big move was in the big growth names which had been left behind last week. Back on […]
Friends Well, I it appears that the old worrier indeed had something to worry about. Stocks collapsed today, perhaps on fears that the Covid-19 pandemic still is anything but in the past, or as a continuation of yesterday’s concerns over Fed Chair Powell’s less than encouraging outlook of the economy. Now, remember, we have seen a two month advance in […]
Friends Stocks finally took a little breather today, and that is probably a good thing. The market averages have gotten very extended on a technical basis, so before we set ourselves up for another more drastic downturn, it would be nice if we just cooled down a bit. The Fed is meeting today and tomorrow, but it is not expected […]
Friends It was a pretty quiet trading day with mixed results. Nasdaq keeps pushing towards previous highs led by the likes of Microsoft, Apple, Amazon, Google, Netflix and Facebook, but many other areas of the market are struggling. The Dow traded down a couple of hundred points at the open, but recovered by midday, only to drift lower by the […]
