October 22, 2018

$50 is the new $5….

The Market: As expected, volatility continues and $50 point swings are becoming as common as $5 point swings use to be.  We expect volatility to remain high but would not be surprised to see the magnitude of the swing start to temper. Today was important because after two straight days of gap ups that sold off into the close, today managed to hold and extend on the gap after an intraday pullback.  As we noted in Monday’s write-up,  the market is very short-term oversold and we would expect a bounce so today’s action is not surprising but we will be…

Icahn comments spark late day sell off

Index & Sector performance 11/18/13 The Market: It was a fairly quiet day in the markets until a comment from Carl Icahn appears to have started a late day sell off after noting that he could see the markets have a “big drop”.  This sent the S&P 500 down roughly 12 points in the final hour of trading In economic date the NAHB Housing Market Index fell slightly short of estimates posting a 54 when 56 was expected.  Today also some a mix of Fed speak and that continues tomorrow including Fed Chairman Bernanke at 7pm EST and President Obama…