You figure out where oil is going and you figure out where the market is going. One look at this market, tells us we collapsed because oil collapsed first. Okay. Here we go. This takes us down. And the s p 500 bounced because we hit a technical level right here. Above the average line. But these are one and the same. This is a few seconds earlier. Dont believe me, you think im cherry picking on the big decline one day in the life of the market i have an idea. Do this for me. Set your alarm to 3 00 a. M. All right. You can stay extra half hour. Set your alarm to 3 30 a. M. Like i do. Check out as trade trades down a few pennies and the s p trade down a couple of picks. All in a vacuum. Pajama trader, selling the s p. Like a dog being dragged by the way around. But today i saw something amazing. When i peered into that cerebral cortex of this market, what i saw was not that the averages do well when oil goes higher. Its that certain parts of the market do exceedingly well. And i didnt ha
All in a vacuum. Pajama trader, selling the s p. Like a dog being dragged by the oily tail and never the other way around. But today i saw something amazing. When i peered into that cerebral cortex of this market, what i saw was not that the averages do well when oil goes higher. Its that certain parts of the market do exceedingly well. And i didnt have this meld going on if i didnt have it going on inside that brain, youd never believe which parts did well. So today we had this huge counterintuitive rally up to 29. 62 within striking distance of that key 30 level. The eagerly awaited oil levels was fundamental. Its just that the trading in crude is so oversold. Something thats gone down week after week is due for a bounce but heres where it go from counterintuitive to totally wacko. What stocks went higher as the lets see. We had a colossal gain in the Consumer Spending stocks like the retailer, travel and leisure place. Moves up in the airlines and the cruise ships stocks. Have in co
Dont believe me, you think im cherry picking on the big decline one day in the life of the market i have an idea. Do this for me. Set your alarm to 3 00 a. M. All right. You can stay extra half hour. Set your alarm to 3 30 a. M. Like i do. Check out as trade trades down a few pennies and the s p trade down a couple of picks. All in a vacuum. Pajama trader, selling the s p. Like a dog being dragged by the oily tail and never the other way around. But today i saw something amazing. When i peered into that cerebral cortex of this market, what i saw was not that the averages do well when oil goes higher. Its that certain parts of the market do exceedingly well. And i didnt have this meld going on if i didnt have it going on inside that brain, youd never believe which parts did well. So today we had this huge counterintuitive rally up to of that key 30 level. I say counterintuitive because the eagerly awaited oil levels was fundamental. Its just that the trading in crude is so oversold. Som
1. 14 . Some would speculate we dont know why. We could round up the usual suspects, but i think we have a big hangover from the Alibaba Party and were simply ripe for a pullback. I know the phrase more sellers than buyers comes to mind on days like today, the sill gym that it may be, but lets at least go over some of the proximate causes so we can get our arms around what happened today, embrace for more selling after a halcyon run. The futures market, they were down big before even stocks opened for training. The reasons for the decline are something we better get used to, so lets tick down the reasons we decline pretty horribly today. The average has been going up, but underneath there was a difficult rotation. In short, investors had been fleeing certain sectors, running into other sectors. Theyve been fleeing chiefly the industrial sectors, and we saw heavy selling in that group today. For example, in this this morning when i wok at 4 30 i know, i slept in to celebrate the eagles
Morning. Our road map begins with a new Gopcontrolled Senate for the first time in eight years. Implications for the rest of the president s term and the markets. Media earnings also out. Time warner lifts its outlook. We have a beat from Rupert Murdochs 21st century fox. Both stocks rising after a drubbing yesterday. And better than expected adp numbers. Well get that ahead of the big jobs number coming up on friday. But last nights midterm elections resulting in a power shift on capitol hill. Republicans retaking the senate for the first time in eight years, capturing at least seven seats and defeating democratic incumbents in states including north carolina, colorado, arkansas. The gop also strengthening its grip on the house, winning governorships in blue states like maryland and illinois. It is a stinging defeat for the president and his party, who by the way, is scheduled to hold a News Conference this afternoon and is planning to meet with congressional leaders in both parties o