Market Montage
Stock Market, Economics, Equity Analysis
Aug10
The general market has been consolidating last Friday's move the entire week. Each morning we have had a gap up or down (not big ones) and then after 11 AM the market is listless. There is no volume out there and it appears everyone with big pockets went to the Hamptons. If it were not for all the gap ups in a row Fri-Tue (can't see it on the stockcharts.com chart) this would be a little bit more of an assuring pattern, but take those away and you have a solid bull flag forming on the S&P 500. …
Aug10
In the George Costanza market way of thinking, poor data is good because it means more easing. That was certainly the case yesterday as a bevy of Chinese data (industrial production, retail sales) was worse than expected, yet equities held in. In fact, commodity type of equities – those most tied to China – were the best performers yesterday as expectations rose for China easing. Overnight, we've had another round of poor Chinese news – I guess we need to be shocked the market has not gapped up 1% on it, as the worse it gets the more policy action "must" happen. …
Aug09
While we are seeing a decent bounce and digestion in the senior indexes (the Russell 2000 still needs some work) the transports refuse to play along. For the old school Dow Theorists this remains a major fly in the ointment. As I go deeper into the subsectors airlines are relatively weak due to the run in oil, railroads are relatively strong, but trucking is the one giving the most mixed messages. UPS and FDX also are not doing much at all. …
Aug09
Oil is definitely putting on the "global monetary easing" trade – frontrunning the expected actions in the weeks ahead. This parallel to runs ahead of such actions in previous years. Gold is perking up a bit too but nowhere near what the oil sector is doing. Some selected sector ETFs below: …
Aug09
As the market continues to grind higher, a lot of the leadership of first half 2012 is being blown up one by one during this earnings season. It is quite interesting to see the "whose who" of growth stocks take it on the chin one after the other – last night Monster Beverage was down as much as 20% after hours but has come back this morning to "only" be down 8%ish. But even before last evening it has not participated in the rebound from early June. …
Sidebar
Subscribe
Explore the Fund Mark Manages
