August 24, 2020 | Daily JAM |
Forget about a "V-shaped" recovery or a "W-shaped" bounce-pullback-move up again recovery. The talk on Wall Street is now about a "K-shaped" recovery where a handful of companies and their shares sooar ahead but where the average company and its stock lags way, way...
July 11, 2020 | Daily JAM |
...the start of earnings season on Tuesday, July 14 when JPMorgan Chase (JPM) kicks off second quarter reports. The most important event of the week, I'd argue, however, is the Netflix (NFLX) earnings report after the close on Thursday, July 16. That report and the...
July 2, 2020 | Daily JAM, Short Term |
Stocks refused to follow the headline job gains reported today--and instead focused upon the uncertainty in the economy looking forward as the re-opening economy gave off signs that the recovery might be about to stall--or even step backward. Even though the June jobs...
June 26, 2020 | Daily JAM, Dip-O-Meter |
I think anyone who tells you they "know" where stocks are going next week is either smoking something (and I'd like some, please) or is looking to sell you something. In the last two weeks we've seen a market that was totally willing to look past all the evidence that...
June 11, 2020 | Daily JAM |
I don't know who started the rout today, human beings or machines. But conditions were ripe for selling from both sources. On the human side, investors were looking at gains of 50% or more in the last month in stocks that had been crushed by the coronavirus recession....
June 1, 2020 | Daily JAM, Long Term |
The Standard & Poor's 500 stock index may be closing in on the February 19 record closing high of 3386.15--about 11.2% from the Friday, May 29, close at 3044.31, but some Wall Street strategists see more rally ahead--with a close at the end of 2020 near 3,500 as a...
May 27, 2020 | Daily JAM, Morning Briefing |
Yesterday's rally in the Standard & Poor's 500, which pushed the index back over 3,000, sent the forward price to earnings ratio--that is the PE based on projected earnings per share for the stocks in the index--to 23.36. That's the highest level for the forward...
May 26, 2020 | Daily JAM, Morning Briefing |
This morning what I saw in photos and videos from this past Memorial Day weekend was a country rushing pell mell toward re-opening the economy without a thought for safety amidst a still uncontrolled coronavirus outbreak. I saw photos of crowds at beaches, on board...
May 8, 2020 | Daily JAM, Morning Briefing |
Today the Labor Department reported that the economy lost 20.5 million jobs in April. And yet stocks strongly rallied. The Standard & Poor's 500 closed up 1.69% today, May 8. The Dow Jones Industrial Average was higher by 1.91%. The NASDAQ Composite gained 1.58%....
May 1, 2020 | Daily JAM, Morning Briefing, Volatility, You Might Have Missed |
On Wednesday, I felt really stupid. I don't believe in this rally. I still think we're due for the bear to come roaring back. And I think the bottom in this market is still somewhere ahead. But on Wednesday April 29, I felt completely WRONG. The Standard & Poor's...
March 27, 2020 | Daily JAM, Short Term, Volatility, You Might Have Missed |
For a while it looked like bullish investors and traders would manage to pull the market even into the close. That would have been quite a positive feat after a huge 3-ay rally and going into a weekend. At 3:27 p.m.New York time today the Standard & Poor's 500 was...
March 13, 2020 | Daily JAM, Short Term |
The Standard & Poor's 500 was up 4.66% at 1:53 p.m. New York time after opening up more than 5%. Since 1:53 level, however, the index has been gradually fading. As of 3 p.m. the gain for the day was down to 3.36%. The bounce this morning was very strong from...
