Monthly Market Updates

Posted August 31, 2009

Rally Continues

Monsoon season was a no show in Tucson this August and the rain has also stayed away from our parade on Wall Street. Spurred on by consistently good economic news the S&P 500, moved up for the 6th consecutive month. For the month the index added 3.4% and is now 13.1% higher on the year. Even more impressive is the continued recovery in the banking sector as illustrated by banking ETF, symbol… Read More ›

Posted July 31, 2009

Fireworks on Wall Street

The annual Macy’s Fourth of July Fireworks Extravaganza on the Hudson River paled in comparison to the fireworks on Wall Street as the S&P 500 staged an explosive rally that took the index to the high for the year. The month began on a dismal note with an announcement from the Labor Department that 100,000 more jobs were lost in June than analysts had expected and the market responded with a 2%… Read More ›

Posted June 30, 2009

June Gloom?

June gloom was reserved for the California coast as the market spent the month consolidating recent gains. After hitting bottom on March 6th the S&P 500 advanced strongly and by the end of June the quarterly gain was 15%, the first quarterly increase since the 3rd quarter of 2007. After a strong market advance one of two things generally happens, either the market drops back and gives up a portion of those… Read More ›

Posted May 28, 2009

Sell in May and Go Away?

Sell in May and go away, a Wall Street phrase that harkens back to the days when money managers would go to cash before leaving New York for a summer in the Hamptons. Although the phrase is dated, it is something traders still think about and talk about this time of the year. However, a better description of this May would be consolidation. After moving nearly 40% higher in the period between… Read More ›

Posted April 30, 2009

April Showers?

April showers avoided the desert and the stock market, as the sun continued to shine on the rally that began March 6th and has now taken the S&P 500 31% off the lows set March 6th. After one of the worst starts to a trading year in history, the markets abruptly reversed in early March and, after moving 8.6% higher last month, the S&P 500 added another 9.4% this month, putting in… Read More ›