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Author Archive for Tony Crowell

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Taking Stock

Taking Stock

For the last three years, the favorite phrase of many Wall Street traders has been “Sell in May and go away.” Like most sayings that seem to offer clear direction in a few words, actual results may differ. Traders who have been waiting for a 5-10% “correction” to jump back in the market are still […]

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Taking Stock

Taking Stock

Up, Up And Away Stocks held their course through a choppy season of quarterly earnings reports. Many companies met or exceeded earnings estimates but often fell slightly short of forecasts for sales. Increased profits on decreased sales demonstrate improvements in productivity brought on by shaving costs after the financial crisis. Getting more from less has […]

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Taking Stock

Taking Stock

Hits, Misses  & Forecasts Quarterly earnings reports fell upon a stock market ready to react. Which way to react was unclear as what seemed as favorable news sometimes provoked selling while missing estimates occasionally prompted buying. Wall Street analysts exaggerate this scenario of reports measured against estimates since they make the estimates and often have […]

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Taking Stock

Taking Stock

Dips And Dividends After holding a solid uptrend for most of 2013, stocks slid into a correction as the first quarterly reports disappointed. This could be the fourth straight year with market weakness developing in April and further stock price advances deferred to the fall. Despite three straight swoons in the spring, stocks then resumed […]

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Taking Stock

Taking Stock

Double Or Bubble? Four years ago in March 2009, the Dow Jones Industrial Average bottomed out at 6,547 and the S&P 500 at 677. They are now around 14,850 and 1,592, more than double. There are always reasons not to buy stocks and investors were fearful then of U.S. debt levels and their accompanying political […]

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Taking Stock

Taking Stock

Stocks are alternating up and down days, creating a chart pattern that looks like an electrocardiogram. The market’s uptrend remains intact but under some pressure as investors fret whether the forthcoming round of quarterly earnings reports will be sufficient to sustain its momentum. For the last three years, April brought us a spring swoon that […]

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Taking Stock

Taking Stock

Don’t Fight The Fed Stocks continue to flirt toward new highs on the Dow Jones Industrials. A record on the broader S&P 500 hangs only a few points above its recent levels. The economic recovery remains fragile after the Congress stumbled into across-the board spending cuts through its spineless sequester and raised taxes Nearly all […]

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Taking Stock

Taking Stock

New Record, Now What? Despite today’s unsettling news of U.S fiscal issues, investors continue to buy stocks with enough enthusiasm to send the Dow Jones Industrials Average to a new high. They did it again the next day and the day after that. This newly reestablished uptrend could, of course, reverse at anytime but the […]

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Taking Stock

Taking Stock

There Ought To Be Clowns Congress confronts another budget crisis of its own creation, yet the major stock market averages are flirting with five-year highs. It may be that previous partisan political games of fiscal “chicken” have hardened investors against overreacting to the latest dysfunctional actions by Congress. After all, panics over prior publicized fiscal […]

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Taking Stock

Taking Stock

The Shell Game And The Shale Game Stocks face two obstacles, both stemming from Washington. The first is the pending forced array of arbitrary spending cuts labeled “sequestration.” The other stems from concerns of an earlier-than-expected end to the Federal Reserve’s program of buying bonds. Much of the economic recovery is attributed to the low […]

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Taking Stock

Taking Stock

Crack On More Sail Like a sound ship in moderate seas, the stock market is maintaining a steady course and speed. Sailors know that even calm waters demand vigilance even while permitting cracking on more sail. This year, the market is up more than 5%, a better performance than all of 2011. Since the beginning […]

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Taking Stock

Taking Stock

Forevers Are Not Just For Valentines Moving toward the midpoint of the first quarter, stocks continue to hold their course. With more days up than down and volume increasing on the up days, the market uptrend remains intact.  Most corporate earnings reports forecast continuing slow growth and the Federal Reserve has maintained its very supportive […]

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Taking Stock

Taking Stock

Still Optimistic Stocks began the year as if shot from a cannon with their biggest rise in six months. This was partly a rally after of relief after Congress stumbled into a last minute tax compromise bill, even if its slipshod passage cured only the most immediate uncertainties. We still face more hurdles with raising […]

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Taking Stock

Taking Stock

A Good Beginning The World Bank’s new Global Economic Prospects report predicts growth picking up around the world. There are risks, particularly the slow progress in solving Europe’s debt crisis and this country’s persisting fiscal uncertainties, but the report concludes that the probabilities of major downside risks have diminished and the probabilities have increased of […]

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Taking Stock

Taking Stock

Another Good Year? With the New Year’s Day quarrels over the “fiscal cliff” only briefly behind us, the renewed debates on the debt ceiling lie just ahead. The ship of state dodged this iceberg in August of 2011 when partisan deadlock brought the federal government to the brink of a totally needless default on its […]