Author Archives: David Ristau

Market Outlook

The market is continuing its very flat, rangey week with another flat day today. The market is reacting to weakness in Europe before the weekend and shrugging off a fairly solid Michigan Consumer Sentiment number that came in at 79.3 vs. 77.5 consensus estimates. Its going to be a fairly light day with light volume that will definitely make things interesting, but overall, we would expect things to bounce around pretty flat. We are staying pretty neutral right now, staying the course. Michigan Consumer Sentiment should keep us in check overall, but some end of the day weakness might be expected going into a long weekend.

Current Positions

Continue reading “The Oxen Report: Long Weekend Ahead, Light Volume, and Lovely Europe” »

Market Recap: The market continues to remain fairly flat this week with a lean to the downside as things continue to remain murky in Europe. Data today was fairly unexciting in either direction, and volume was dry with a lack of buyers/sellers due to holiday weekend and summer months. Jobless claims came in down 2K week-over-week at 370K despite missing expectations at 365K. Durable orders came in lower than expected at 0.2% with auto parts showing strength while capital goods declined another 2%. Europe was up but fairly quiet, and the Euro continued its decline, which weighed on the equity/commodity markets.

The market is continuing to perform in a very rangey flat way that we expected holding the 1300 level on the S&P, but its also not breaking out with so many fears in the market. We continue to be pretty rangey, and we expect things to stay that way.

Continue reading “Two Stocks To Trade, What’s Next For The Market: May 24, 2012” »

Market Outlook

The market is looking pretty flat this morning without much of a catalyst in either direction and lighter volume heading into the holiday weekend. Initial jobless claims came in at 370K vs. the 365K expectations, but the report did drop 2K from last week. That news is not really helping the markets tremendously nor hurting them. Additionally, durable goods order data was reported, and it was not very bullish. The number came in at 0.2%, missing the 0.3% expectations. Further, a lot of key sectors showed continued declines in orders. The strongest area remained auto parts. Europe is having another nice day on the back of some good movement in their banks after the Spanish capital injection, but we are not following early on. We look for a really flat day today and tomorrow in this market.

Current Positions

Continue reading “The Oxen Report: Market Looking Flat into Holiday Weekend…” »