Market

Regulatory Relief

October 23rd, 2017|

By Pete Biebel, Vice President

The market’s lack of movement persisted through most of last week (see last week’s commentary The Market Needs a Taxative).  Even when a meltdown in China’s Hang Seng Index led to a gap-down opening here on Thursday, most averages were able to crawl back to about even for the day.  Then, […]

The Market Needs a Taxative

October 16th, 2017|

By Pete Biebel, Vice President

All the major stock indices inched to new highs last week with the measured speed and grim determination of a French Quarter funeral procession.  To say the averages made a little movement would be like saying a glacier made a little movement today.  The S&P 500 Index (SPX) gained a whopping […]

Better Wait Than Lever

October 9th, 2017|

By Pete Biebel, Vice President

In a record filled week, most of the major averages reached multiple new highs.  Those gains followed on the previous week’s late-week breakout over 2500 on the S&P 500 Index (SPX).  Last week I wrote that, “Another percent or two of upside follow-through seems to be within easy reach.”  And, it […]

I Got a New Altitude

October 2nd, 2017|

By Pete Biebel, Vice President

Last week brought the end of September and the end of the year’s third quarter; it also brought new highs in several of the major averages and several industry sectors. Yet, while the market’s ascent continued last month, the market saw a big shift in the leadership that led the expedition […]

The Market Hunkers Down

September 11th, 2017|

By Pete Biebel, Vice President

While North Korean hijinks factored ominously into early-week trading last week, the damage was well contained and a significant percentage of the early loss was quickly recovered.  The market seemed to fall back into the lethargy of dull summer trading sessions late in the week, but that apparent lack of conviction […]

On the Lam

September 5th, 2017|

By Pete Biebel, Vice President

Last week the U.S. stock market shrugged off potentially bad news on several fronts and cavorted to a respectable gain.  The NASDAQ Composite Index (COMP), with the help of some big tech names and resurging biotech stocks, had its best week of the year, gaining nearly 3%.

Last week I theorized that […]

Twenty-Four Fifty or Fight!

August 28th, 2017|

By Pete Biebel, Vice President

Eight score and thirteen years ago, our forefathers elected James K. Polk to be President. The Whig Party candidate, Henry Clay, had been expected to win by a landslide, but instead got Polk-ed. Polk’s victory was largely attributed to his campaign slogan, “Fifty-Four Forty or Fight!” The slogan referenced the line […]

Foggy Mountain Breakdown

August 22nd, 2017|

By Pete Biebel, Vice President

Much of my commentary last week focused on the degree to which the preceding week’s midweek tumble increased the likelihood that the broad averages registered intermediate-term highs at their recent peaks.  The weeks leading up to that plummet had seen very narrow ranges and very low volatility.  Compounding the risk were […]

Deep Kimchi

August 14th, 2017|

By Pete Biebel, Vice President

The market had its worst week in quite some time last week.  The Dow Jones Industrial Average (DJIA) lost 1.06% for its worst week since March.  The broader, but still high-cap S&P 500 Index (SPX) fell 1.43%, its worst weekly loss since before the election.  The even broader and smaller-cap Russell […]

Broken Record

August 7th, 2017|

By Pete Biebel, Vice President

The Dow Jones Industrial Average (DJIA) has posted gains for nine consecutive sessions and has reached a new record level on each of the last eight of those days.  The daily reports are beginning to sound like a broken record.  “Broken record” is one of those outdated similes and metaphors that […]