Bit by Bit

Bit by Bit Our past comments about Bitcoin have centered on the theme that crypto is not ready for prime time. While we may have looked a little naïve as bitcoin shot up to almost $70,000, we look a bit more prescient now. FTX, a leading crypto exchange, has filed for bankruptcy, and the collateral […]
READ POST

Coasting (Further) Down the Mountain | November 5, 2022

Coasting (Further) Down the Mountain The intention this week was to let the market know what it essentially already knew – that this would be the last 0.75% rate increase and that the Fed would begin to slow rate increases. Wednesday’s FOMC Statement was perceived as dovish and immediately sent stocks higher. The presser had […]
READ POST

Searching for Goldilocks | July 9, 2022

Searching for Goldilocks Watching the stock market these days is very easy, but also very frustrating. Good news is bad news and vice versa. Case in point was Friday’s employment report. Nonfarm payrolls increased by 372,000 in June, well above the 250,000 Street estimate and the unemployment rate remained at 3.6%. What was the reaction […]
READ POST

Looking for One Foot Bars | May 14, 2022

Looking for One Foot Bars After a difficult start to 2022, the tone of markets has become decidedly worse over the last 2 weeks, notwithstanding the rally on Friday, as markets appear to be shifting their focus from an inflation problem to a growth problem (i.e. a looming recession). The S&P 500 is now down […]
READ POST

Bear Market Bounces | February 5, 2022

Bear Market Bounces Investopedia describes a bear market rally as follows: “…a period inside of a bear market in which prices of stocks temporarily increase, sometimes quite sharply, before returning to new lows. This rise in prices is typically a short-lived increase, sometimes lasting anywhere from days to months, amidst an overall long-term downward trend […]
READ POST