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Author Archive for Tony Crowell

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Taking Stock

Taking Stock

‘Tis The Season Like a vanishing Halloween ghost, the Federal Reserve ended the tapering of its bond-buying program, at least for the time being. As the Fed announced last month that it intended to end the program this month, the news should not have been surprising although Wall Street seemed shocked and sold off briefly. […]

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Taking Stock

Taking Stock

Volatility Is Back After stock market averages set record highs in mid-August, stocks sagged, interrupting the market’s recently re-established uptrend. The buoyant markets of the last couple of years must have spoiled investors; financial media featured predictions of doom even though the averages only declined 3% to 4% before the recent (brief) rally. Market technicians […]

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Taking Stock

Taking Stock

Bad News And Good News Stocks began the third quarter with a Fourth of July bang and ended it with a whimper. The averages crested at new highs in mid-August, then slipped back, finally ending the quarter up 1% on both the Dow Jones Industrials and the S&P 500. Even that modest gain disappeared on […]

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Taking Stock

Taking Stock

Try To Remember The Kind Of September . . . As stocks exited the summer of 2014, the S&P 500 Index marked the year by closing at 2014. It backed off and is now around 1972; resumed momentum and September quarterly earnings reports should send it back by yearend above 2014 and probably through 2100. […]

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Taking Stock

Taking Stock

The Bank Plays On The Federal Reserve is calling the dances for Wall Street at the moment. Janet Yellen, its Choreographer-in-Chief, announced Wednesday that it plans to keep interest rates near zero for a “considerable time” after the previously announced wrap next month of its bond-buying program. The Fed also reduced its 2015 forecast for […]

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Taking Stock

Taking Stock

Old Pilots and Bold Pilots Apple (AAPL-$100) kicked off the fall stock season with a trio of new products. Its new iPhone expands the screen and the iWatch shrinks it. Apple will sell millions of these to people who didn’t know that they really wanted them until this week. The iPay system is less dramatic […]

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Taking Stock

Taking Stock

September Songs Stocks left behind slow summer trading on a run, entering September on sharply increased volume. The market left little doubt of its short-term momentum, scoring new highs above 17,000 on both the Dow Jones Industrial Average and above 2,000 on the S&P 500. The U.S. economy supports these advances as its slow recovery […]

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Taking Stock

Taking Stock

  S&P Hits 2000; What’s Next? Market professionals use the Standard & Poor’s index of 500 stocks rather than the popular Dow Jones Industrial package of 30. Still, if you ask one of them how the market is doing, she will probably respond with the change in the Dow. The DJIA has greater historical roots, […]

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Taking Stock

Taking Stock

The Rally Of Summer  For the third time in the past twelve months, the stock market slid into a downtrend and then, after dipping around five percent, rallied and resumed a confirmed uptrend. It’s like contemporary swimming pools with a maximum depth of five feet, making it easier to avoid getting in over your head. […]

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Taking Stock

Taking Stock

The Fed Points The Way The Federal Reserve under new Chair Janet Yellen continues to shape the financial markets. Its policies persist in those set by her predecessor, Ben Bernanke, who led the recovery from the financial disasters of 2007-2008. New programs of unprecedented depth provided liquidity and low interest rates, a powerful combination still […]

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Taking Stock

Taking Stock

Pyrotechnics on the Street and in Mid Air Stocks celebrated the Glorious Fourth with fireworks, as the Dow Jones Industrial Average finally went through 17,000. Investment returns are shining under “the rockets red glare.” Like rockets, stocks shoot up and then come down, but these ups and downs are inherent in markets. Investors who allow stock […]

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Oil for Troubled Waters  American consumers have been unusually restrained over the past five years. The financial crisis shook complacency in reliable real estate investment. It destroyed many jobs, some gone forever. Computers are taking over many functions, boosting business “productivity” but leaving those displaced in the wake. Manufacturing and medical companies are booming but […]

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Taking Stock

Taking Stock

The Fed Keeps The Course The Federal Reserve continues to keep a gentle but steady grip on the tiller. It lowered its growth forecast for the rest of 2014 although it noted that recovery was continuing, allowing it to take another step backwards from its stimulus strategy. As expected, it cut monthly bond purchases by […]

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Taking Stock

Taking Stock

New Weeks, New Highs The market uptrend continues with stocks quietly making new highs on both the Dow Jones Industrial Average and the S&P 500. Trading volume is up, signaling institutional buying support. The European Central Bank finally made a substantial cut in interest rates, encouraging all stocks upward. Both the S&P 500 and the […]

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Taking Stock

Taking Stock

Finally, The Uptrend Is Back At last, the market averages pushed through their recent ceilings on increased volume, confirming a resumed uptrend. For several weeks, stocks have advanced on lower volume without conviction, in the manner of someone trying to pad quietly up a flight of stairs. Three months ago, the market sagged down 6% […]