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Cant comprehend it. Sometimes youre dazzled by all the ways that this market gives you to make money. Big money. Today was one of those days. Dow climbing 78 points. S p gaining 0. 4 . Let me tell you how that money was made and then more importantly, plain the take aways from each win. Because i need you to understand that the gains in this market have been extraordinary. Why is that . Simple. Its because managements will not let up about their stocks being too cheap. They hate it and they keep doing something about it. Meanwhile, other companies are now coming in to buy the stocks of still other companies that they think the stock market isnt paying enough for and are worth a great deal more to an acquirer. And still other companies have so much growth that their stocks cant seem to do anything but go higher. House of pleasure. Lets start with everyones what everyone is buzzing about. The 85 hostile bid for time warner launched today by murdochs company. We all know that the companie ....
Rallied to record levels. S p climbing. 28 . By the way thats a 15year high. Yep. Bull markets take their cue from johnny mercer. As investors ak sen wait the positive eliminate the negative and dont short mr. In between. Lets start with some big winners. Last time we learned the u. S. Is investigating whether the gold market has been rigged by some of the Worlds Largest banks. Now, were all used to what happens after that news right . Immediately the targets get hit. And all too often the case one of them is the bank jpmorgan. Just when the stock looks like its going to break out we get this investigation. And like chuts and ladders this seemed like it was headed right back down into oblivion. Oh, but not in this market. Jpmorgan convenes an analyst e meeting and going to charge because under the new capital rules the company is penalized for too much capital. So the stock doesnt go down at all and looks flat before the openings. ....
Yellen on the u. S. Economy, set to testify today. Well bring you both prepared remarks and q a live. Home detail shares are higher premarket following solid Quarterly Earnings but macys volatile this morning on what are mixed results. Jpmorgan shares higher. The bank outlining new measures to streamline businesses and cut some costs. The nasdaqness aiming for a tenth straight day of gains after closing at a fresh 15year high. On capitol hill in an hour fed chair yellen begins two days of testimony on the economy. The watch is on for hints as to when the fed might raise Interest Rates. Shell face the Republicanled SenateBanking Committee, whose chairman is a fed critic. Live coverage of yellens testimony and the q a session with lawmakers. A lot of tea ....
Whole session unfold with the averages starting of course, but only finishing higher. The dow gaining 82 points. S p advancing, and nasdaq climbing 0. 53 . A terrific setup. A setup for the bulls. Thanks to five major positives. Oil, the dollar, excessive pessimism, Interest Rates and good earnings. All of them went the right way today. Buy buy buy. Lets take them one at a time. So you can understand what made us feel so much more sanguine. First, need oil to stop going up. Then ultimately plummeting two bucks. The rallying and the consistency of the move, the sheer viciousness has obliterated the positive stories that have been driving whole swathes of the market. When you get a huge increase in the price of oil, it amounts to the tax increase on twothirds of the american economy. And its consumer based. You Better Believe thats a gigantic buzz kill. From the lowest at 43 to ....
Tim Taft and I were swapping some old stories and I thought I had a pretty decent one, but he outdid me. I’ll tell mine first because his was better ....