The market went on a wild ride last week…

THE MARKETS The market went on a wild ride last week as volatility increased, volume surged and prices fell sharply. When the dust settled, all of the major averages were down sharply. During the week the NASDAQ, AMEX, S&P 500 and the DJ Utility Index fell to levels not seen since 1998. The Dow Jones [...]

By | July 15th, 2002|Market and Portfolio Commentary|Comments Off on The market went on a wild ride last week…

An explosive rally on Friday…

THE MARKETS An explosive rally on Friday was enough to pull the major averages out of their slump as the Dow Jones Industrial Average ended the week in positive territory for the first time in seven weeks. On the negative side three indexes, the NASDAQ, S&P 500 and the Dow Jones Utilities took out their [...]

By | July 8th, 2002|Market and Portfolio Commentary|Comments Off on An explosive rally on Friday…

A slew of negative news couldn’t hold down stocks last week…

THE MARKETS A slew of negative news couldn’t hold down stocks last week as the Dow Jones Industrial Average had a minor loss while the NASDAQ ended the week in positive territory. Things looked bleak on Wednesday as both indexes dropped to yearly lows on the heels of the WorldCom blowup. However, an impressive turnaround [...]

By | July 1st, 2002|Market and Portfolio Commentary|Comments Off on A slew of negative news couldn’t hold down stocks last week…

The Dow and the NASDAQ recorded new lows for the year…

THE MARKETS Negative corporate and international news continued to depress stocks last week as both the Dow Jones Industrial Average and the NASDAQ recorded new lows for the year. For the week the DJIA lost 220 points (-2.3%) and closed at 9254. The NASDAQ, which is closing in on the September 2001 low lost 64 [...]

By | June 24th, 2002|Market and Portfolio Commentary|Comments Off on The Dow and the NASDAQ recorded new lows for the year…

Stocks took it on the chin for the fourth week in a row…

THE MARKETS Amid fears that the economy could be headed for a double-dip recession, stocks took it on the chin for the fourth week in a row. All of the major averages, with the exception of the Dow Jones Transportation and Utility Indexes, finished the week in the minus column. The Dow Jones Industrial Average [...]

By | June 17th, 2002|Market and Portfolio Commentary|Comments Off on Stocks took it on the chin for the fourth week in a row…

All of the major averages took significant hits…

THE MARKETS Tech stocks, led by Intel, sent indices reeling last week as all of the major averages took significant hits. Volume swelled on both the NYSE and NASDAQ signaling that we may be near a bottom. For the week, the Dow Jones Industrial Average lost 336 points (3.4%) and closed at 9589. The NASDAQ [...]

By | June 10th, 2002|Market and Portfolio Commentary|Comments Off on All of the major averages took significant hits…

Investors see few reasons to pile into stocks at this point…

THE MARKETS Amid a backdrop of rising Indian Pakistani tensions over Kashmir, ongoing accounting concerns, and an anemic profit recovery, investors see few reasons to pile into stocks at this point. For the week, the Dow Jones Industrial Average fell below the 10,000 mark losing 181 points (-1.8%) and closed at 9,923. The NASDAQ staggered [...]

By | June 3rd, 2002|Market and Portfolio Commentary|Comments Off on Investors see few reasons to pile into stocks at this point…

Investors on the sidelines…

THE MARKETS Renewed fears over the possibility of another terrorist attack kept investors on the sidelines as prices declined on shrinking volume. Both the Dow Jones Industrial Average and the NASDAQ were under pressure, as investors remained skittish ahead of the looming holiday. For the week, the DJIA lost 249 points (-2.4%) and closed at [...]

By | May 27th, 2002|Market and Portfolio Commentary|Comments Off on Investors on the sidelines…

The three major indexes all gained for the week…

THE MARKETS The oversold conditions which we discussed last week led to an impressive rally as the three major indexes all gained for the week. For the period the Dow Jones Industrial Average gained 414 points to close at 10,353. The S&P gained 52 points to close at 1107, and the NASDAQ posted gains for [...]

By | May 20th, 2002|Market and Portfolio Commentary|Comments Off on The three major indexes all gained for the week…

The markets failed to follow through and ended the week on a down note…

THE MARKETS Despite a 306 point rally on Wednesday the markets failed to follow through and ended the week on a down note. The rally appeared to be a “short-covering rally” in a continuing down trending market. A short-covering rally is marked by a reversal of a trend lower in prices. The rebound in prices [...]

By | May 13th, 2002|Market and Portfolio Commentary|Comments Off on The markets failed to follow through and ended the week on a down note…