Published December 23rd, 2007
in Portfolio - Updates (all).
Just when you think that we must be on the naughty list – Old St. Nick comes through. We can thank companies such as Adobe Systems (ADBE), Oracle (ORCL) and our old friend Research in Motion (RIMM) for putting the market in such a festive mode. All reported earnings last week that beat expectations. Has the slowdown in US enterprise spending been overstated? Some analysts are now are questioning that hypothesis.
For the week, the DOW, S&P 500 and NASDAQ were up 0.8%, 1.1% and 2.1% respectively. Commodities soared. Gold, silver, copper and oil were up 2.2%, 3.6%, 4.8% and 1.9% respectively. Gold stocks, as represented by the XAU, were up 1.3%.
Continue reading ‘Time & Money Review 12/21/07 – Santa Spotted on Wall Street’
Published December 16th, 2007
in Portfolio - Updates (all).
The Fed didn’t win any friends last week. The market sold off 300 points after their policy announcement on Tuesday. The market’s poor response prompted the Fed, the following morning, to announce a coordinated plan with the European Central Bank, the Swiss National and the Bank of England to address the credit crunch. After an initial positive reaction, the market sold off as investors attempted to decipher the plan.
Many traders were outraged as they were blown out of their positions courtesy of the Fed’s actions. Well-respected trader, Dennis Gartman, called for Bernanke’s resignation on CNBC. The outcries will only grow louder as Bernanke continues learning on the job. Unfortunately, investors are being stuck with his student loans.
Continue reading ‘Time & Money Review 12/14/07 – Investors Suffer as Bernanke Learns on the Job’
Published December 8th, 2007
in Portfolio - Updates (all).
The DOW popped for 196 and 175 on Wednesday and Thursday as the bulls anticipate Bernanke spreading good cheer in next week’s FOMC meeting. There is so much turmoil surrounding the credit markets and the sub prime debacle that passing out a lump of coal (no rate cut) can’t be a serious option. Will a ¼ point cut be enough to kick off the traditional Santa Claus rally? Tune in around 2PM on Tuesday to find out.
For the week, the DOW, S&P 500 and NASDAQ were up 1.9%, 1.6% and 1.7% respectively. Commodities were mixed. Gold and silver were up 1.4% and 2.4%, while Oil and Copper were down 0.5% and 1.8%. Gold stocks as represented by the XAU were up 1.9%.
Continue reading ‘Time & Money Review 12/07/07 – Bernanke: Saint or Grinch?’
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