All Blog Entries

Stocks were up early on Thursday, and then another ISM report came out - the non manufacturing ISM - which was light, and the market reacted, and probably overreacted, on the downside because the Dow quickly erased a over 300-point loss, and then it rallied to close up 122-points, making for a wild ride. You can tell investors are getting very sensitive to the economic data as recession concerns escalate, as the early fear on Thursday was palpable.

...

Stocks tumbled on Wednesday as the ISM report seems to have shifted the momentum to the downside, or at least taken to a new levels since stocks were already wobbling in the second half of September. October has a reputation of being wild and so far it has lived up to that. The near 500-point loss in the Dow is a sharp one, but at -1.86%, certainly not too unusual if you've been in the market a while. However, the question always is, what's next? More pain or a buying opportunity?
...

Stocks opened sharply higher yesterday and it looked like we were getting a Turnaround Tuesday and a new direction for October, as we talked about yesterday, but a weaker than expected ISM Manufacturing report changed things quickly, and we ended the day with a negative outside reversal on many of the charts. The Dow lost 344-points while the Transports and small caps lagged.

...

Stocks rallied on Monday with the Dow gaining 97-points on the day. The gains basically grabbed back Friday's losses as the S&P 500 lost 16-points in Friday, and yesterday it gained back 15, so the choppiness continues, but the month ended on a positive note heading into October. The market had plenty of reasons to back off in September, but the indices are hanging pretty tough despite the noise.

...

Stocks opened higher on Friday but more news on the China trade front sent the indices lower and by the close we saw moderate to sharp losses across the board. The Dow gave up 71-points, or just 0.26%, but the Nasdaq and the small caps each lost 1% on the day while the S&P 500 lost a half of a percent. Bonds were up modestly.

...