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December 15, 2017

Stocks rose once again yesterday as the year end rally continued. Bonds and the dollar remained within a tight range. This morning, let me start by going back to bitcoin for a brief moment. The bulls on the cryptocurrency make several points. Let me briefly comment on them. Bulls argue that bitcoin is a more […]

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December 13, 2017

While the leading averages rose once again yesterday, the NASDAQ had a disappointing session amid profit taking. Although the Dow Jones Industrials and the S&P 500 have been setting new records almost daily, the NASDAQ has yet to set a new high on any date in December. If you are a tech investor, there is […]

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December 08, 2017

Stocks rallied yesterday as the volatility of recent sessions faded. Bonds rose and yields fell. This week, in looking ahead to 2018, I noted that the key variable was interest rates. Over the past couple of weeks, as volatility increased and the pace of rotation escalated, some investors began to fear the dreaded 10% correction, […]

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December 6, 2017

Normally, December is a good month for stocks, especially at the end of a strong year. But you wouldn’t know it from the market’s behavior the last few days. Volatility has picked up amid wild intraday swings and stocks have generally closed at their daily lows, not a good sign. In particular, the year’s winners, […]

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December 4, 2017

Stocks fell on Friday amid some uncertainty over the Senate tax bill (that obviously got settled in the wee hours of Saturday morning) and a mid-morning revelation that Mike Flynn had pleaded guilty to lying about his contacts with the Russians and had agreed to cooperate with the Special Prosecutor’s office. Stocks regained a large […]

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December 1, 2017

Stocks moved sharply higher both yesterday and the day before as tax legislation appeared to be marching toward a successful conclusion in the Senate. While the Dow soared, not all stocks followed. Tech shares took a beating on Wednesday as money rotated toward 2017’s losers and companies with high domestic tax rates that do most […]

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November 29, 2017

Stocks rose sharply yesterday as investors reacted to generally positive comments from incoming Fed Chair Jerome Powell and the passage of the tax reform bill by the Senate Finance Committee. Oh yes, and Bitcoin soared to over $10,000 per coin. No one seemed to care that President Trump and leading Democrats were fussing about a […]

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November 27, 2017

There should be a relatively quiet few days in front of us, but December will see a lot of activity. One focus will be on retail sales. Stores were filled once again on Black Friday, but it appears that store traffic this past weekend was a bit lighter than in the past, while online sales […]

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November 22, 2017

Happy Thanksgiving to all. Unless there is an unforeseen monumental news event between now and Friday morning there will not be a Market Comment on Friday. No sense in writing a bunch of words when no one is around to read them. Stocks celebrated yesterday, setting record highs once again. There is no really good […]

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November 20, 2017

Thursday’s one-day rally evaporated on Friday as stocks closed lower amid little news. There wasn’t much new to digest over the weekend, and this week’s calendar is light because of the Thanksgiving holiday on Thursday. Friday, of course, is the day we refer to as Black Friday. In the past, this was the so-called day […]

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