[Chart courtesy of MarketWatch.com] Moving the markets Despite the major indexes climbing again out of an initial hole, with the Dow back above its unchanged line, markets were shaken up early on. The culprit was news about the multibillion-dollar family office of Archegos Capital Management, which was faced with a margin call forcing them to liquidate massive holdings in stocks …
Swinging Wildly
[Chart courtesy of MarketWatch.com] Moving the markets Another day, another roller coaster ride. Sharp early losses were wiped out, as the markets did a U-turn with the major indexes ending moderately in the green. One of our more volatile SmallCap holdings had triggered its trailing sell stop last night and was sold. Fed head Powell contributed to the early sell-off …
Reversal Day: Nasdaq Pops And Drops
[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s broad retreat, the Nasdaq managed an early bounce, which was quickly wiped out when the index changed direction and headed south while accelerating its demise for the day during the last hour. SmallCaps had a wild and whacky day as well. Up strongly in the morning, the momentum faded with “value” …
No Place To Hide
[Chart courtesy of MarketWatch.com] Moving the markets An early attempt by the major indexes to cling to their respective unchanged lines proved to be a futile one, when mid-day the bears stormed out of hibernation. All equities were slammed, and a sea of red was the inevitable result. Even slipping bond yields could not stem the tide, but at least …
Tech Fights Back
[Chart courtesy of MarketWatch.com] Moving the markets After getting pulled off its lofty level last week, the tech sector showed signs of life and built on Friday’s modest rebound by gaining +1.23% for the day. While all three major indexes ended in the green, today’s rotation was from “value” into “big-tech growth,” thereby leaving SmallCaps in the dust. ZH equated …
Cranking Yields = Tanking Nasdaq
[Chart courtesy of MarketWatch.com] Moving the markets Well, that did not last very long. Even though the Fed’s most dovish words yesterday were able to soothe markets and produce a bounce back from early losses, today was a different day. Bond yields suddenly surged, up 11 basis points intraday to 1.75% for the 10-year, but they came off that high …