With last Wednesday’s post FOMC rally, many US indices and stocks hit fresh year to date highs and forced more than a few fund managers to chase the market higher. It turned out however that buying Wednesday’s highs likely was neither the smartest nor ‘coolest’ thing to do, as after a consolidation day on Thursday, Friday ushered in some notable selling across the US equities landscape. The two sectors that [...]
When on Wednesday (September 18th) Fed Chairman Ben Bernanke pulled yet another rabbit out of his hat, markets worldwide saw big moves almost instantaneously. As a result of the ‘no-taper’ decision stocks and commodities rallied, bonds sold of sharply, the dollar crashed, and the EURUSD currency cross jumped of joy. If one were to look at the big rally in the Euro this week in a vacuum, which of course [...]
Courtesy of the ‘no taper’ decision by the Federal Open Market Committee yesterday, Wednesday September 18th, US stocks rallied hard, taking many to fresh all-time highs. One of the high beta stocks that also followed suit is priceline.com Inc (PCLN), as it squeezed to a new all-time high after holding its medium-term up-trend in place over the past few weeks. On August 13th I last discussed the state of the [...]
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