MKW

Tuesday Outlook: Commodities, Global Markets

Note that as far as volume was concerned, GS and XLF were the whole show yesterday - and even they just managed to get up to volume which would have been considered average in mid-April.

Thursday Outlook: Commodities, Global Markets

I have to disagree with you, Dave... There is one potential stimulus to move the market higher - a certain large bank's secondary. Said bank has been so active with the late afternoon explosions in SPY that I think they have a lot of chits to call in. It might only be a ferocious, three-day rocket flight (like 1/2/02 to 1/6/02), but I think people discount the risk of a super-quick jam up back to S&P 950 at their own peril. After that, I don't know were the floor is.

Wednesday Outlook: Commodities, Global Markets

Yes, I agree. Note what happened after the three day run from 870 to 930. The market went sideways for a couple of weeks then plunged to its March, 2003 low.


On Jun 17 08:44 AM DDPearson wrote:

> On Jun 17 07:01 AM MKW wrote:

Wednesday Outlook: Commodities, Global Markets

It's actually gratifying to finally see Mr. Market get his head out of you-know-what; however my sense is that things are going to get interesting from here. My current thesis uses the market from 12/2/02 to 1/6/03 as the model. It was two months off what would eventually be recognized as the ultimate low of the tech bubble burst. S&P 500 hit an intraday high of 954 (sound familiar?) before retreating to roughly 870, then blasting back up to 930 again - and I mean blast, it took three trading days.

Let's not forget, it's JPM that's been almost solely responsible for the "emergency" large-block buy orders in SPY which have provided us almost daily stick-save entertainment for the last couple of months; and it's JPM which still has its secondary coming up at the end of June. I have a funny feeling that they've finally come to the conclusion that it would be too difficult to keep the market propped for that long and so are content to let it drop. Easier to make a repeat of 1/2/03 - 1/6/03 to elevate their share price.

Tuesday Outlook: Commodities, Global Markets

I think it's safe to assume that once the last of the banks have their recapitalization funds, the thumb will come off the scale. Three months ago, if someone had imagined this rally, I would have said they need psychiatric help. At this point, the Fed's got to be telling the banks to hurry it up, given the damage the rise in interest rates is doing.

And it looks like someone's setting up early for the anticipated 2:00 Rally. It's only 1:30 and someone just jammed the Dow up 20 points (and back to a positive number) in about two ticks. The Powers That Be really just don't give a crud what kind of damage they're doing to the market's credibility as a valid valuation discovery mechanism, do they?

Friday Outlook: Commodities, Global Markets

About the stick save at the end. Are you implying it wasn't because Individual Investors Everywhere find the market is offering such compelling value, especially in financials?


LOL!!!!!!!