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Insiders Club - 10.23.2014 Bookmark

10.23.2014

Here we go again....

After four days of intense buying, the market was short term overbought, and quite stretched. It needed a pause day, and yesterday was it. They blamed oil, they blamed the strange shooting situation at the Canadian Parliament. But we tend to think they were excuses rather than reasons.

All night long the futures were soggy. Over in Europe most of the indexes were slightly red. But then they got the juice they needed.

Insiders Club - 10.21.2014 Bookmark

10.21.2014

Good morning folks, the madness continues.......

Yesterday the S&P put in a good showing, and even the DOW made it to slightly greed despite IBM missing earnings by a mile. After the close and Apple's earnings, there was a flurry of futures action, and then the air started coming out. Futures were drifting lower and once again there was the all too familiar "save".

Insiders Club - 10.20.2014 Bookmark

10.20.2014

Good morning all, welcome back from your weekend. I surely hope it was a good one for you all. Down here in Florida, we had a most spectacular weather weekend. The humidity went away, the temps cooled off and the sky was deep blue. It made for a perfect day to go for our weekly bike ride and beach walk.  I could surely go for a bunch more days like that.

In market land, things got sort of crazy this morning. Overnight the futures were up pretty strong, although they were fading just a bit from the highs. Then they simply "crashed". What was the problem? IBM.  They came out with their earnings, and they missed by a mile on the top and bottom line. It was the 10th quarter in a row of year over year drops.

Insiders Club - 10.17.2014 Bookmark

10.17.2014

The wild week continues....

Yesterday the market traded in a wild range of 276 points. From the lows to the highs, we made wild massive swings. At the close, things were relatively flat.

Last night the futures were pretty much flat all evening until about 30 minutes after Europe opened. Then all hell broke loose. Why? One of the ECB members came out and said that  QE would start within days to buy up assets.  Well that's all it took to fire up all the robot computers on earth. Europe started to soar, and our futures here in the states went from flat to up 25 on the S&P.

10.16.2014 More Selling?? Bookmark

Last night in the Newsletter we suggested that the selling wasn't over. We felt that we'd be going down again. BUT we felt that would happen AFTER a bounce off yesterday's lows. In other words, we figured we'd go green for a couple days and then see the energy fade out again and we'd go down and test the lows. But this morning at 7 am the futures are down 150 points on the DOW and the S&P is off about 20.

Insiders Club - 10.15.2014 Bookmark

10.15.2014

Morning all, welcome to what could be an interesting day.

The futures are all over the map this morning but mostly deep red. So, what's their issue this morning? Didn't they do a pretty good job of at least keeping the market flat yesterday? They did.  So what's up with all the red? Well, it started in Europe. Italy, Greece, and a handful of others were very weak, So this morning we've got a sea of red over there, with Germany down 100.

But there's another twist to the story. Evidently down in Texas there's another healthcare worker that's tested positive for Ebola. That's got folks rattled a bit.

10.14.2014 Bounce Day? Bookmark

On Monday the market was trying to hold up all day, but then in the last hour an enormous futures dump hit, as somebody liquidated over  4400 E-mini futures in one sell. That sent the algo-bots into hyper drive and it fed on itself. But today is a new day, and 3 of the major banking institutions have released earnings.

10.13.2014 Magic Levitation Bookmark

Last night when the futures market opened, ( Futures open at 6 pm Sunday evening) the DOW quickly plunged red. Even an hour later the DOW futures were down 70 and the S&P down 15.  But with Japan closed for Holiday, and our own Bond market closed today for Columbus day, they knew there wouldn't be any volume in the futures pits and they could work their "magic".

Insiders Club - 10.13.2014 Bookmark

10.13.2014

Good morning everyone, welcome to a new week. I certainly hope your weekend was a fun one. Down here on the Gulf coast of Florida, we're still running way above average temp wise, as we continue to be at the 90 degree level. It's been so hot for so long that the first time the temp dips down into the 70's everyone's going to have to wear down parkas.

So this week kicks off the real beginning of earnings season. We're going to start hearing from the heavyweights, and as I said in the newsletter, the extent of their "fudging" will determine what the markets do next.

10.3.2014 JOBS DAY! Bookmark

We all know that the mid term elections are coming at us pretty quickly and it would make a lot of sense that they'd paint the tape ahead of those elections, so that the incumbents look like they're doing their jobs. So, we just got the jobs report, it came in at 248K. Not only that, the unemployment rate fell to 5.9%. That's the lowest since 2008. Right. Sure.  Wait it gets better. Remember last month where they were looking for 250K, but only got 148K?  Well that was revised up to 180K

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