Random Walk Trading.com
Thursday
April 30, 2015
Prepared by the good people at Random Walk, LLC.
Closing Prices From Yesterday
FED MEETS TODAY
Last Day of April Already.
So much for the strongest month of the year.
Below are the major stocks reporting earnings
1/3 of all S&P 500 stocks report this week
1–855–798–0008
Today’s Number(s)
Today’s Number(s)
Yesterday and Today
Yesterday
A little bit stranger than even the previous day.
The market opened lower as the selling in the German Bund helped force our bond market down to where yields broke outside of their long term range. The 10 year bond broke above 2.1% and things got a little dicey in the markets.
Then after the Fed announced we bounced from down -14 in the E-mini futures to where they were only down about -4. This did not hold as bonds started to fall again after a post-Fed bounce. Meanwhile the USD sank almost $0.02 at one point as the Euro closed above $111. In addition crude made a huge rebound as it approaches $59 a barrel.
So much for cheap oil, strong buying power overseas, and low interests. All these things conspired to knock the Dow down 75 points and the E-minis close right back where they started ā down $14. All said, though, this market could have really sold off hard, but didn’t. The market’s favorite stock AAPL closed down almost -$2 and Twitter took it in the shorts again.
Did I fail to mention that GDP for the first quarter came in at $0.02%. The quarter before was flat. All this means is this country sees no growth, yet bonds fell anyway. And poor growth was blamed on?
(Pick One)
-
Strong US Dollar
-
Weak or strong oil
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Bad weather
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The dog ate the GDP’s homework.
And to show how STUPID we all are who watch the Fed, the big news in the Fed minutes was that they stated they will increase rates when numbers improve, and they took the time frame of āsignificant time periodā out of their wording. How do I make $1mm a year counting the Fed minutes to see how many times they said āsignificantā? We are all getting dumber, and evolving backwards.
Meanwhile LL (Lumber Liquidators) got demonic on us and fell another $6.66, or 20%.
TODAY
We have 6 decent economic numbers out before the open, and given how well they have been in the past it is anyone’s guess how they will turn out. Good news is no longer good news or bad. Bad news is no longer good. News is contingent on the mood of the day.
Traders are taking the same approach to economic numbers as dieticians do with eggs. Are eggs good or bad for you? Maybe the whites are good and the yolks are bad? In the past eggs were good for you, then bad, then only the whites, and now everything is good again. So is the economic numbers.
This being the strongest month for the markets (historically) I am not impressed. And as the saying goes, āsell in May and go awayā, we can look forward to the last day of this (coughing) bullish market month of April being today.
The Dow was in the same exact place (on and off again) since Dec 22, 2014. Yawn….
But don’t get disappointed. The market gets like this before doing something big.
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
It is probably just as accurate as if they had built it yesterday. In other words, flip a coin if you want to know if you should bring an umbrella. And it is (believe it or not) going to cost HUNDREDS of MILLIONS of dollars. That is as close of an estimate as they can make.
Any more to the left and she circles back to the far right.
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Attorney Stuff
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