By Josh Hayes on February 1, 2007
Investors were definitely happy to see the Fed leave rates unchanged–even though I am not sure what else they were expecting–and rewarded the stock market with gains across the board. The Fed stated that core pricing pressure subsided, which relieved inflation concerns, and stated that economic growth was firmer and the housing market has stabilized. [...]
Posted in default category | Tagged breadth, consumer confidence, djia, economic growth, housing market, Nasdaq, nassy, NYSE, s trading, service group, small caps, sp 500, stock market, transportation service, wishful thinking |
By Josh Hayes on January 3, 2007
What a way to start off the New Year! Today, stocks showed us all why it is silly to have convictions. After gapping up very strong this morning on the back of some strong manufacturing data, stocks continued to rally. However, after the FOMC minutes were released, stocks did the exact opposite and reversed into [...]
Posted in default category | Tagged 3pm, accumulation, bad money, breadth, djia, economic growth, gapping, intraday, Nasdaq, NYSE, slowdown, sounding, sp 500 |
By Josh Hayes on December 12, 2006
Stocks started the day pretty calm and soon gave way to some very rapid selling that dropped the indexes hard to their lows of the day; the Nasdaq fell as much as 1%. However, stocks found strong support on that selling and after the FOMC announcement stocks worked higher finishing well off the lows. Overall, [...]
Posted in default category | Tagged bad day, bad news, breadth, djia, economic growth, fed rate, housing market, lacker, last breath, lows, Nasdaq, NYSE, sp 500, steel products, straight time |
