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02.09.10
Bouncing from Oversold - Pre Market

Bad news is starting to pile up and it is getting difficult to find a bull anywhere. As the market declines, sentiment is following the tape into the toilet. Therefore, we think the situation is ripe for a surprise rally. It would be the type of rally where people wonder “Why is the market going up now?”

In fact, a subscriber raised a similar question in SpearChat yesterday, asking, “With earnings season over, what would be the catalyst for any further rally?”

02.04.10
Bounce Stalling - Pre Market
After posting two triple-digit up days in a row, the Dow paused on Wednesday to catch its breadth, or breath. Large-cap tech attracted some investor interest ahead of Cisco’s earnings report and Cisco did not disappoint. CEO John Chambers forecast that the networking company would post fiscal third quarter sales growth of 23%-26%, well above analysts' consensus of growth in the mid- teens. That said, shares were up less than $1 (or 4%) in after-hours action.  
01.29.10
Pre Market Commentary
The market made new lows on Thursday, as several tech leaders bit the dust. More than any other index, the Nasdaq represents the animal spirits of the market. When it starts to falter, the weakness tends to spread.  
01.26.10
Pre Market Commentary

The Dow rallied the expected 100 points and then fizzled. Although the market is oversold, the Dow broke the key support levels from November-December on the way down. The puny challenge of that level yesterday suggests that the bulls are cowed.

01.22.10
Glass Steagall 2.0

Some will consider 01/21/2010 (11:39 A.M. EST) the moment the White House declared 'War on Wall Street.' Others will remember it as the day the government declared its Independence from Wall Street.