Archive for the ‘Market Update’ Category

The Trump Bump

How does it rank?


Hat tip Ryan Detrick


Deep Blue Destroyer


From  ATLANTIC OCEAN (Nov. 7, 2017) The Arleigh Burke-class guided-missile destroyer USS Oscar Austin (DDG 79) transits the Atlantic Ocean. Oscar Austin is on a routine deployment supporting U.S. national security interests in Europe, and increasing theater security cooperation and forward naval presence in the U.S. 6th Fleet area of operations. U.S. Navy photo by Mass Communication Specialist 2nd Class Ryan Utah Kledzik

The Nightmare of Communism Won’t Die

For your weekend reading pleasure, a great article from Robert Tracinski:

Key bit:   Today marks the 100th anniversary of the October Revolution that set off the long global reign of terror of Communism. (For obscure reasons having to do with the outdated calendar used in Russia at the time, the October Revolution actually happened in November, and the Soviet Union traditionally celebrated it on November 7.) A century of Communism achieved four main results for the people who suffered under it: poverty, oppression, war, and mass death.

Countries taken over by Communists, from China and Russia to Cuba and Venezuela, were either plunged from relative prosperity into starvation or walled off for decades from the growing prosperity of capitalist countries—often right next door, enjoying all the same benefits of geography and culture. Think of the contrast between East and West Berlin, between Cuba and Chile, between mainland China and Hong Kong, between North and South Korea.

Still Breaking Records

The Dow Jones Industrial Average has not had an intra-day move of more than 1% in the last 60 trading days.  That’s the longest such run in history:


Hat tip Charlie Bilello

Hot By Halloween

The S&P 500 Index was up over 15% by Halloween this year.  A move of that size is pretty rare(17 times in history).  What happens next?  The Index finishes off the final two months of the year higher 16 of 17 times:  


Grading The Republican Tax Plan

Dan Mitchell does the honors.  The lede:   House Republicans have unveiled their much-anticipated tax plan.  Is this something to celebrate? Well, that depends on whether you’re grading on a curve. Compared to a pure, simple, and fair flat tax, it’s timid and disappointing.

But compared to today’s wretched and unfair tax code, there are some very positive changes.  Especially at the corporate level.


Read the whole thing:

From Germany to Mexico

How America’s Source of Immigrants Has Changed Over A Century

Nearly 59 million immigrants have arrived in the United States since 1965, making the nation the top destination in the world for those moving from one country to another. Mexico, which shares a nearly 2,000-mile border with the U.S., is the source of the largest wave of immigration in history from a single country to the United States.


Fascinating.  Read the whole thing:



The Steady March Higher


The S&P 500 Index is now well into its longest run without a 1% intra day move.  Steady.  Higher.  Quiet.

Hat tip Charlie Bilello


After A Strong October

The weakest season for stocks(May-Oct)wasn’t very weak this year.  In fact, it was quite strong.  Some color:  October marks the final chapter of what is historically considered the “worst six months” for both the Dow Jones Industrial Average DJIA, +0.11%  and the S&P 500 SPX, -0.16% or the period with the worst seasonal performance. (For the Nasdaq COMP, -0.27% the period between the end of June and the end of October is considered the worst four months of the year.) That historical trend hasn’t played out in 2017, however, which augurs well for the coming months.

More:  Historically, there is a divergence between how the market performs in the 12-month period following a “great” May-through-October stretch, and a “not bad” one. In the 12 month period following a great “worst six months,” the market is positive 76.2% of the time, and posts a median gain of 12.8% over that period. For a “not bad” one, it is only positive 62.5% of the time, and sees a median rally of just 4.5%.


Read the whole thing:


During the ‘weakest’ month the S&P 500 Index reached eleven new new all-time highs.  The most of any October in history.  It was also the most for any one month since November of 2014(12). 

Once again, this gem on election night from esteemed Nobel Prize winning economist Paul Krugman(3.6M twitter followers):  “Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.”

An epic self-beclowning, read the whole thingThe Economic Fallout

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