From the Trading Desk

Friday Morning Coffee: Terrible Close and Russell Rebalance

Aside from yesterday’s terrible close for the stock market in general the Russell family of indexes are about to undergo their yearly rebalance. Every year in June the Russell Rebalance is a large event for money managers who benchmark their portfolios against any of the indexes Russell produces. While for us the only impact will […]

Crude Tumbles Again; Biotechs Gain

Crude oil fell once again as the pain continues for those who are long the commodity. Energy names weighed on the Dow, but the index did not lead the market lower. That honor went to the Russell 2000 has traders once again fled small cap stocks. Friday at the close the Russell will undergo its […]

Another Day of Distribution for the NASDAQ

After posting decent gains on Monday the market followed up with selling on Tuesday. Volume was high enough on the NASDAQ notching its 5th day of distribution over recent weeks. Given distribution is piling up on the NASDAQ it does give some pause to whether the dominance the NASDAQ has shown will continue. On the […]

Stocks Start the Week with Gains

Coming off quadruple witching Friday stocks followed up with solid gains with the NASDAQ 100 leading the rebound. It is no surprise the NASDAQ 100 names bounce back as they have borne the brunt of the selling as of late. Financials performed well with the likes of JPM, MS, and BAC looking solid. There are […]

Stocks Rebound after Post-Fed Hangover

Yesterday’s end-of-day rally was quickly erased as sellers returned during the first part of today’s trading session. Early in the session Monday’s lows were challenged. The S&P 500 and NASDAQ both could find buyers at their lows. Volume was lower than Wednesday’s turnover, but price action was good enough. At this point, we are likely […]

Fed Raises Rates; Dow Shines as NASDAQ Fades

Once again, the Federal Reserve has raised interest rates as expected by another 25 basis points. The announcement came at 2pm eastern daylight savings time. Odds were in favor of a June or July rate hike and the central bank decided to go forth with another quarter point hike. Far and away the best performing […]

NASDAQ Rebounds; Traders Await the Fed

Due to an unfortunate kitchen accident we will forgo commentary tonight. Cutting your thumb wide open is not a way to star your evening. Check back in tomorrow! By then, typing will be a lot easier!

Large Cap Tech Selling Continues

The first half hour of trading sellers dominated the market as large cap technology stocks were once again facing unrelenting selling. It appeared we were going to have another day where the NASDAQ was down big with FB, AAPL, AMZN, NFLX, and GOOGL were leading to the downside. We are now entering the summer trading […]

Sell-off in Crude Sacks Energy; Stocks up as Turnover Picks Up

An expected build in inventories helped send Crude Oil lower by more than 5% as the S&P 500 Energy sector finished the day down 1.5%. Luckily, the group only makes up 6% of the entire S&P 500. Financials were the winning sector of the day as Banks helped push the entire group up more than […]

Final Hour of Trading Sours Day; First Distribution Day in 2 Weeks

The final hour of trading sent stocks lower as the NASDAQ has its first distribution day since the 17th of May. Volume was running higher than Monday throughout the day, but selling picked up as the market closed out the session. In a positive development it was no the Russell 2000 leading the market decline. […]