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"Never put off until tomorrow what you can do the day after tomorrow" ... Click to view a price quote on BA. Click to research the Aerospace/Defense industry. Read More »
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Finance | greece lady waiting daves daily
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The jobs report Friday was a ginned-up number but the media and algos don't look under the hood much it seems. Yes, the unemployment rate fell to 8.3% and 243K new jobs were created and perhaps the number itself will boost confidence. My favorite book from college statistics was 'How to Lie with Statistics'. I believe the Bureau of Labor Statistics (BLS) may have ripped a chapter or two from Read More »
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Finance | controversial jobs report stokes bulls daves daily
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Yes, the copy that follows has little to do with Facebook. After all what do we really know about it? ... Click to view a price quote on QCOM. Click to research the Telecommunications industry. Read More »
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Finance | facebook ipo wall streets worst secret daves daily
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  Eurozone news took markets lower early as Portugal's bond yields rose sharply and there still is no accord on Greek debt with private lenders. News from the eurozone remains gloomy as noted in this report from Davos World Economic Forum. ... Click to view a price quote on AAPL. Click to research the Computer Hardware industry. Read More »
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Finance | bulls january ascent intact daves daily
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  GDP data was released Friday revealing headline economic growth of 2.8% versus consensus of 3.1%. Real economic growth after inflation was only 1.7% for 2011. Negatively affecting the data were lower state and local government spending, private inventory investment and, believe it or not, federal government spending. ... Click to view a price quote on PG. Read More »
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Finance | gdp data confirms slow growth daves daily
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The same can't be said for the energy and most precious metals as Bernanke gives the complex the green light. The Fed wants to reflate and if that's what they want, traders will accommodate them. You want to pay more for energy don't you? Thankfully it's not in the phony CPI because authorities want you to pretend you neither use heating oil, gasoline or even food for that matter. They've recon Read More »
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Finance | bulls day off daves daily
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. The Fed will make its policy announcement Wednesday and this should keep volume light and markets tense until then. They'll make their announcement, hold a press conference and then various Fed Governors will be out on the hustings to "sell it". Apple's earnings are front and center after the bell and came in up 118% blowing away estimates. There must have been an iPhone, Macbook Pro and an Read More »
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Finance | waiting bernanke co daves daily
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Let's not kid around, IBM is nearly an 11% weight in the price-weighted Dow Jones Industrial Average. What happens to it on any given trading day matters and can potentially mislead investors over the true performance of markets overall.  This is why the DJIA is often referred to as "window dressing for the tourists" and why most market strategists focus on the S&P 500 Index instead. Read More »
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Finance | big blue dominates friday trading daves daily
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The primary news pushing stocks higher Wednesday was hard to put together. Some were pleased by eurozone reports the IMF was proposing to add $500 billion to the bailout facility bringing the total to nearly $1 trillion. Such a move would require congressional approval if we still have a constitution and the rule of law. Anyway, that idea was shot down by the U.S. Treasury. Goldman Sachs ( Read More »
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Finance | fear left behind daves daily
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Volume remains an enigma but really shouldn't. Last week Trim Tabs made the stunning report that investors, mostly retail, during just the first 11 months of 2011 put $889 billion into checking accounts. This is money under the mattress. Why is this happening? No trust unfortunately and Wall Street, the NYSE and other enablers have made trading a casino for program trading algos, hedge funds Read More »
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Finance | mr market wonders went daves daily
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JPMorgan (JPM) reported worse-than-expected results, knocking stocks lower. Thereafter rumors and leaks started that S&P was going to lower credit ratings for eurozone countries including France. This is something that's been bandied about for quite awhile. S&P probably planned to do this Friday "after" the close of trading giving investors a three day weekend to digest it. But, leaks Read More »
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Finance | jpm country downgrades hit markets daves daily
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Jobless Claims disappointed as they rose back to nearly 400K (399K vs expectations 375K & previous 375K revised higher) and this data from a shorter week. Retail Sales data was also surprisingly weak considering the holiday period (.1% vs .4% consensus & .4% previous. Ex-Autos .0% vs .2% expected and .2% previous.). Business Inventories also declined sharply (.3% vs .5% consensus and Read More »
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Finance | bulls blind bad data again daves daily
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Much was made of Alcoa's earnings result as a cause of today's bullishness, but the stock finished basically flat on the day. However, data from China indicates strong demand for metals (JJC, DBB) which pushed base metals prices and the materials sector (XLB) higher. Bulls extrapolated the combination of the two reports as bullish overall and drove the S&P 500 Index above the October 201 Read More »
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Finance | sp breaks october high daves daily
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A small elite group of viewers of political satire on late night television just don’t watch for the laughs, according to a recent study. Read More »
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News | daily show viewers deep study says
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Out the window today in New England were some robins. You generally wouldn't see them this far north until later in March. But there they were and must be confused. Stock markets appear confused as well by what should be a good employment report. But there's some seasonality to the 200,000 new jobs added and lower 8.5% unemployment rate. New jobs are always added during the holidays. Morgan Sta Read More »
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Finance | markets sense false spring daves daily
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LACKLUSTER DAY FOR MARKETS Investors most likely are waiting for news from employment reports Thursday and Friday. The trading day started rather poorly as eurozone issues were present once again. Oh dear, I did suggest they'd be present sometime in the first quarter but not as quickly as the second trading day. ... Click to view a price quote on F. Read More »
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Finance | lackluster day markets daves daily
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Like others, I was watching the S&P 500 Index and wondering if it was going to close green or red on the year. The close on December 31, 2010 was 1257.64 and Friday we closed at 1257.60. (Maybe my eyes were playing tricks on me?) After all was said and done, the bottom line for 2011 showed what it was--an exercise in futility. Yes, the DJIA was up 5.5% on the year but most traders know that p Read More »
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Finance | window dressing daves daily
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Bulls didn't have good news going for them, except for the NAR's Pending Home Sales (up 7.3%). The NAR's recent flub and readjustment of previous home sales data leaves the organization's reliability questionable. Nevertheless, it was enough to energize the animal spirits despite a worse than expected Jobless Claims (381K versus 372K expected) from a shortened week. The Chicago PMI came in ju Read More »
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Finance | bulls eye finish line daves daily
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Wednesday was a stinker. There was widespread selling in all asset classes except for U.S. bonds. Much of this selling may have been due to year-end tax selling; a break in support levels for the euro; much weaker commodities especially in precious metals, and more worries about the health of the U.S. economy, corporate earnings and...you guessed it...the eurozone. Gold and silver losses have Read More »
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Finance | bears spoil rally daves daily
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Markets are being well managed by the bulls. Jobless Claims data was about the same as previously, but frankly how much is from people finding some seasonal work and those losing benefits? The GDP data at a measly 1.8% isn't very encouraging for this period in a recovery--it should be more like 4%. Just as troublesome as the GDP data was that per-capita disposable income is now reported to have Read More »
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Finance | will santa deliver markets daves daily
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There wasn't much good news in the data released Friday. Durable Goods missed estimates ex-transports; Personal Income and Outlays also missed and continued to show declining income especially; and New Home Sales were higher by 1.6% which was in line with estimates. The congressional tax impasse was broken as most thought it would but that didn't stop headline writers from trying to find a reas Read More »
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Finance | santa jams markets close daves daily
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There wasn't much follow-through from Tuesday's outsized rally. Bulls were able to mount an afternoon charge from 1% declines in the DJIA and SPX to close basically even on the day. Things weren't so good for the NASDAQ where the index closed 1% lower on Oracle's (ORCL) poor earnings report. In tech land poor earnings and guidance are becoming more common.  Meanwhile Yahoo (YHOO) is co Read More »
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Finance | market direction marked confusion daves daily
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There are some really odd things occurring -- the eurozone naturally leads the list. Italy and Spain will contribute funds they don't have to the IMF, which then in turn will lend it back to them. That's something sillier than a Ponzi scheme. From the Telegraph: "Ministers confirmed today that, as part of a broader international effort to improve the adequacy of IMF resources, euro area Member Read More »
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Finance | big banks hit daves daily
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This was a quiet quadwitching for markets especially given the end of yet another volatile week. There was little in the way of economic data. Earnings news featured a positive report from FedEx (FDX) which stated holiday shopping has provided a large boost to its business. (It's still just once a year right?) Nevertheless the company stated Asian business was slowing which was little noticed Read More »
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Finance | quadwitching ends whimper daves daily
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Pundits keep talking things up but who's left to listen? We rallied initially on better economic data (below) but there's a dark cloud over the market and quadwitching is ahead Friday. Adding to the uncertainty was influential Goldman Sachs strategist Jan Hatzius who commented: "A reduction in the lending of foreign banks to U.S. counterparties could have a meaningful impact on U.S. growth."& Read More »
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Finance | stocks cloud doubt daves daily

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