The Fed Reaction Is a “Nothingburger” Posted by Pete Stolcers on December 11 www.oneoption.com After digesting the FOMC statement overnight, the market is right back where it started. PRE-OPEN MARKET COMMENTS THURSDAY – As expected, the Fed cut interest rates by 25 basis points yesterday. Half of the Fed officials said that they did not feel the rate cut was … Read More

I Hope I’m Wrong About This Posted by Pete Stolcers on December 10 www.oneoption.com The FOMC statement might not generate much of a reaction. PRE-OPEN MARKET COMMENTS FED-DAY – Today the Fed is going to cut interest rates by 25 basis points and they are likely to squash hoped for future rate cuts. The economic data points have been better … Read More

No Pre-Fed Rally Posted by Pete Stolcers on December 09 www.oneoption.com Last week it looked like the market might move higher into a likely rate cut, but it fell back into the trading range. PRE-OPEN MARKET COMMENTS TUESDAY – There’s not much to say. The economic releases are light and all eyes are focused on the FOMC. I felt that … Read More

Fed Watch Posted by Pete Stolcers on December 08 www.oneoption.com The economic calendar if light and all eyes are focused on the FOMC Statement Wednesday. PRE-OPEN MARKET COMMENTS MONDAY – The market has been able to hold recent gains and it is within striking distance of the all-time high. It is addicted to easy money and a 25 basis point … Read More

All-time High In Sight Posted by Pete Stolcers on December 04 www.oneoption.com Yesterday the market broke out of a minor compression and it is within striking distance of the all-time high. PRE-OPEN MARKET COMMENTS THURSDAY – The market was able to shoulder a weak ADP report yesterday and 32K jobs were lost in the private sector during the month of … Read More

ADP Showed Job Losses Posted by Pete Stolcers on December 03 www.oneoption.com The private sector lost 32K jobs in November according to ADP and that was worse than the 5K growth that was expected. PRE-OPEN MARKET COMMENTS WEDNESDAY – During the government shutdown employment data was not collected. That is giving ADP more weighting than normal. Conditions have been weak … Read More

No News Is Good News Posted by Pete Stolcers on December 02 www.oneoption.com The economic calendar is light today and that favors the up trend. PRE-OPEN MARKET COMMENTS TUESDAY – There isn’t any news to stand in the way of seasonal strength and the market is floating higher. The brief round of profit taking yesterday ended quickly and the gap … Read More

Ignore the Headlines Posted by Pete Stolcers on December 01 www.oneoption.com These moves are program generated and they are searching for size in both directions. PRE-OPEN MARKET COMMENTS MONDAY – I hope all of you had a great Thanksgiving! That is one of my favorite holidays. We got lots of snow this weekend and it is feeling like December. ISM … Read More

The Rally Has Stalled Posted by Pete Stolcers on November 26 www.oneoption.com Since triple witching in September the market has not moved. PRE-OPEN MARKET COMMENTS WEDNESDAY – During the last quarter, two rate cuts and earnings releases have produced a 2% gain. Since the beginning of the year, the market is up 14% and those are excellent returns. Forward P/Es … Read More

Programs Are Driving the Action Posted by Pete Stolcers on November 25 www.oneoption.com The Gap Reversal Thursday has almost been reversed and the market is back to the 50-day MA. PRE-OPEN MARKET COMMENTS TUESDAY – The drop last week felt particularly nasty, but much of it was artificial. The gap reversal gained momentum and once it was established, programs kicked … Read More