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06/25/13

Stocks dropped again yesterday as the Dow lost another 140-points. We did see a strong mid-day rally that was shaping up as a bullish reversal day, but by the close sellers took control again. The Dow did finish over 100-points off the low, but also 100-points off the high.

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06/24/13

Stocks stabilized on Friday after the 2-day, 550+ point drop in the Dow during the previous two trading sessions. The Dow gained 41-points and the S&P 500 saw a modest gain, but small caps and the I-fund finished in the red again.
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The stock market got off to a pretty good start at the beginning of last week, with solid gains on Monday and Tuesday. By contrast, the bond market continued to see selling pressure, but it was relatively contained.

Of course, the big event traders and investors were waiting for came on Wednesday as that was the day the FOMC policy statement was released along with subsequent comments from Chairman Ben Bernanke. The Fed Chair indicated that if economic conditions continued to improve, ...

It was a rough week for both the stock and bond markets as the Fed put a scare in investors by reiterating that they will, at some point soon, lighten up on their bond buying policy. While this should be a positive because it insinuates that the economy is getting closer to being able to run on its own without Fed intervention, the economic data doesn't suggest the economy is running on all cylinders yet.

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06/21/13

The Dow lost 354-points yesterday, which makes 560-points in the last two days. Percentage-wise it isn't horrible, but the charts have started to break down.

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