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Wall Street Strategies has been providing independent stock market research since 1991 to individual, retail and institutional clients through a balanced approach to investing and trading. Charles Payne, our founder and chief analyst, is routinely sought after for his stock market, political,... More
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  • Oil Gushing Helps Stocks By Charles Payne

    Watch my show: Making Money With Charles Payne Fox Business 6PM

    Once again oil moves higher and lifts the stock market along for the ride. Two drivers today for oil include:

    • EIA inventory showing a 2.1 million barrel drawdown as refineries ramp production
    • Cushing Inventory down 1.91 million barrels to 54.5 million, the lowest since March
    • Venezuela continued its push for OPEC to find a floor and target minimum price levels for oil

    Oil is still in a downtrend, but recently, it is making a stand even as the smartest guys in the room call for $30 dollars a barrel or lower. Key resistance is $50.00, through there it sends a positive economic message.

    There is also the rebound in China's stock market. For all the wild gyrations, and panic, the Shanghai market is unchanged for 2015 and up 37% over the past 52-weeks.

    The Fed

    Of course, all eyes are on the Fed tomorrow. I think there will be no rate hike, a view shared today by Lloyd Blankfien of Goldman Sachs.

    When I hear Lloyd and the Fed, I think of Harold Lloyd and hard times of the depression as this event has been built up to those proportions.

    I actually would like to see the Fed hike rates, a single one and done. Maybe that happens. If not, I would say they do in December to avoid interfering with the elections next year.

    Sep 16 1:33 PM | Link | Comment!
  • Range Determined By Charles Payne

    Watch my show: Making Money With Charles Payne Fox Business 6PM

    The stock market popped out the gate and after pulling back as much as 100 Dow points from the high, it seems to be getting a second wind. Although equities act better than crude today, it was the reversal of the latter that sparked stocks to make the first attempt to re-test intraday highs. There is an interesting bifurcation as Netflix continues to move lower (this time on another downgrade of Go Pro) and Apple feels squishy even though names in its orbit from NXPI to SWKS are putting in a great session.

    The big upside test comes at Dow 16,538 which is last week's high.

    All the major indices are miles away from key moving averages that would signal significant reversals. But this is the week for the bulls to make a stand and that means 16,000 must hold as key support.


    Have you gotten a company of my The Hype and The Reality report? If not, click on the link below for your free report.

    Click here for your free report

    Sep 08 1:48 PM | Link | Comment!
  • More Executive Fiat = Less Jobs By Charles Payne

    Question of the Week

    Considering America's policy created an unstable Libya, helped destabilize Syria, as well as embolden and miss the rise of ISIS, what role should we play in the migrant crisis?

    Take Them In
    Ignore Them
    Ask Regional Allies to do More

    President Obama chose Labor Day as a backdrop for yet another executive order. This time, he made it official that government contractors must provide paid sick leave for all workers. The administration will also push ahead the so-called Healthy Family Act to receive the same benefit to 44 million additional working Americans.

    Perhaps this sounds good and even caring on paper, but it's another example of government meddling that has already erased all the norms of the business cycle and post-recession recoveries. Forcing businesses with more than 15 employees to give paid sick leave benefits would crush so many small businesses. However, this administration believes business is there to be the honey pot of workers.

    It's the same notion that's ushered in a higher minimum wage around the nation. There are mounds of evidence that it's backfiring.

    Seattle saw its biggest hit to employment among restaurant workers since 2009, and Los Angeles hotel workers are dropping like flies.

    A higher minimum wage, Obamacare work definitions, and now paid sick leave are going to leave a scorched earth swathing through the lower end of the jobs market. Last month, the number of Americans who work part-time due to the economy surged from 158,000 to nearly 6.2 million.

    Happy belated Labor Day!

    The Market

    Even though the market was down on Friday from yet another disappointing session, the Dow now appears to be putting in serious support north of 16,000. If it fails, we have to consider the serious possibility of the index retesting 15,666.

    Today's Session

    The biggest development in the world is part economic, but also part political, and certainly an issue nobody can ignore. I'm talking about the migrant crisis in Europe, which has been a powder keg for some time, but entered our conscience with the image of the dead three year old boy on a beach in Turkey. His family was fleeing Kobani to seek a new life in Europe.

    The market will begin with a big pop at the start in part to speculation that China will pump a lot of money into its economy after the poor data released overnight.

    • Exports -13.8%
    • Imports -5.5%

    I've been around for a while and the market is often up the first session after Labor Day as all the big boys are back and ready to go. This time, they're back and itching to make up for lost ground as the Pharaohs of Wall Street have taken it on the chin pretty good.

    I don't like chasing the first bounce, but Target (NYSE:TGT) is a screaming Buy for those not long or those with higher cost.

    Sep 08 9:38 AM | Link | Comment!
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