Skip to main content

Market Update Friday 03/20/20

Following yesterday’s relatively calm trading, the SkyNet SellBots kicked things back in gear with another dramatic sell-off. A brief morning rally quickly turned into another waterfall decline. A last hour rally trimmed the day’s damage just a bit.

Dow ends down over 900 points in wild action, as stocks book worst week since 2008.

The DJIA dropped 913 points (4.6%) and the NASDAQ sank 271 points (3.8%). US Treasury paper and gold gained again while oil plunged.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 03/19/20

US stocks traded in a relatively narrow range for the first time in weeks. The SkyNet SellBots took control in the overnight futures trading, sending US stocks lower at the open of trading on Wall Street. From there, stocks zigged and zagged their way higher into the close. The DJIA recovered 188 points (0.9%) and the NASDAQ jumped 160 points (2.3%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 03/18/20

It was another devastating day on Wall Street. US stocks mini-crashed again as the SkyNet SellBots took control in the overnight futures trading, sending US stocks sharply lower at the open of trading on Wall Street and triggering circuit breakers and a trading halt. The SellBots continued the unrelenting pressure and only a last hour rebound provided a minor bounce into the close. The DJIA dropped yet another 1,338 points (6.3%) and the NASDAQ tanked 345 points (4.7%). US Treasury paper and gold fell sharply again.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Tuesday 03/17/20

After yesterday’s historic plunge, the SkyNet BuyBots took control in the overnight futures trading, sending US stocks sharply higher at the open of trading on Wall Street. But as soon as the bulls breathed a sigh of relief, the SellBots stepped right in and erased all of the early gains. But Donald Trump & Co. again saved the day by announcing even more financial and monetary stimulus (i.e. bailouts) and the BuyBots jumped all over that news, sending stocks sharply higher into the close.

New York Fed pledges to offer $1 trillion a day in overnight repo loans

Fed to lend against stocks and bonds in bid to stabilise markets

The DJIA recovered 1,049 points (5.2%) and the NASDAQ rebounded 430 points (6.2%). US Treasury paper fell sharply. Gold finally showed some strength, jumping $47.00.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 03/16/20

It was “Just Another Manic Monday,” as the SkyNet SellBots orchestrated yet another massive attack on US stocks.

On Sunday, Fed Head Jerome Powell threw in the towel and cut the Fed’s interest rates essentially to zero. That financial bazooka backfired as the SkyNet StockBots interpreted that as a sign of desperation and panic. Panic indeed followed, as the Sunday evening futures quickly hit lock limit down. A brief midday rally attempt by the BuyBots evaporated and the sell-off accelerated into the close.

The Dow had its worst point drop ever as stocks tumbled again

The DJIA plunged nearly 3,000 points (2,997 to be exact) (12.9%) and the NASDAQ surrendered nearly 1,000 points (970 to be exact) (12.3%). US Treasury paper rallied strongly again.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 03/13/20

Friday the 13th turned out to be a very lucky day for stock market bulls. The SkyNet BuyBots took control in the overnight futures trading, sending US stocks sharply higher at the open of trading on Wall Street. But as soon as the BuyBots breathed a sigh of relief, the SellBots stepped right in and erased all of the early gains. But Donald Trump saved the day and the week by finally announcing his plans to counteract the coronavirus. The BuyBots went bananas and unleashed a rip-roaring rally into the close. The DJIA recovered 1,985 points (9.3%) and the NASDAQ soared 573 points (9.3%).

Stocks post biggest rally since 2008, clawing back some of their coronavirus collapse

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 03/11/20

The blood-letting continued today as the SkyNet SellBots set the stage in the overnight futures trading session and kept the pressure on all the way into the close. ,The DJIA plunged another 1,465 points (5.9%) and the NASDAQ shed another 411 points (4.9%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 03/09/20

It was a day for the record books, as The Great Bear Market of 2020 accelerated in dramatic fashion. The feud between Saudi Arabia and Russia over oil production  added even more fuel to the coronavirus fire which sparked the sell-off  two weeks ago.

The SkyNet SellBots set the stage in the overnight futures trading session, hammering stocks and crude oil, and lighting another fire under government bonds. US stock opened “lock limit” down, by plunging 5% in the first few minutes of trading.

Circuit breakers, triggered for the first time in 20 years, pass a crucial test

After the mandatory circuit break halt in trading, the BuyBots stepped in and stabilized the action, but it wasn’t enough to stem the time, The SellBots resumed their relentless pressure into the close as stocks closed near the lows of the day.

The DJIA ended down a record 2,014 points (7.8%), the largest drop since The Crash of  1987. The NASDAQ surrendered 624 points (7.3%). US bonds continued to roar ahead to record territory, though closing a bit off the lows.

Here are the milestones and firsts from the markets’ historically bad day

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 03/05/20

The on-again off-again on-again off-again on-again off-again on-again off-again fears over Cornoavirus mania was definitely in on-again mode. The SkyNet SellBots regained control in overnight futures trading and kept right on going all the way into the close. The DJIA plunged 969 points (3.6%) and the NASDAQ surrendered 279 points (3.1%). US bonds continued to roar ahead to new highs.

Dow tanks more than 950 points as Wall Street’s roller-coaster week continues

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 03/05/20

The on-again off-again on-again off-again on-again off-again on-again off-again fears over Cornoavirus mania was definitely in on-again mode. The SkyNet SellBots regained control in overnight futures trading and kept right on going all the way into the close. The DJIA plunged 969 points (3.6%) and the NASDAQ surrendered 279 points (3.1%). US bonds continued to roar ahead to new highs.

Dow tanks more than 950 points as Wall Street’s roller-coaster week continues

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 03/04/20

The on-again off-again on-again off-again on-again off-again on-again off-again fears over Cornoavirus mania was definitely in off-again mode. The SkyNet BuyBots regained control in overnight futures trading and kept right on going all the way into the close. The DJIA soared 1,173 points (4.5%) and the NASDAQ jumped 334 points (3.8%). US bonds continued to roar ahead to new highs.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Tuesday 03/03/20

Following last week’s wild, woolly and hair-raising mini-crash and yesterday’s historic rebound, the SkyNet SellBots regained control as Fed Head Jerome Powell delivered a widely-expected but disappointing “surprise” 50 basis point interest rate cut. The SellBots erased some early morning gains and send US stocks sharply lower into the close. So much for the “Dead Cat Bounce.”

Dow plunges more than 700 points despite the Fed cutting rates

The DJIA got whacked for 786 points (3.0%) and the NASDAQ tanked 268 points (3.0%). US bonds continued to roar ahead to new highs.

10-year Treasury yield falls below 1% for the first time

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Tuesday 03/03/20

Following last week’s wild, woolly and hair-raising mini-crash and yesterday’s historic rebound, the SkyNet SellBots regained control as Fed Head Jerome Powell delivered a widely-expected but disappointing “surprise” 50 basis point interest rate cut. The SellBots erased some early morning gains and send US stocks sharply lower into the close. So much for the “Dead Cat Bounce.”

Dow plunges more than 700 points despite the Fed cutting rates

The DJIA got whacked for 786 points (3.0%) and the NASDAQ tanked 268 points (3.0%). US bonds continued to roar ahead to new highs.

10-year Treasury yield falls below 1% for the first time

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 03/02/20

Following last week’s wild, woolly and hair-raising mini-crash on Wall Street, the SkyNet BuyBots said “Coronavirus be damned, enough is enough, full speed ahead” and mounted one of the largest rallies in US stock market history, The trillion dollar question is, was this merely a classic  “Dead Cat Bounce” or the beginning of the next leg of the bull market? Time will tell. The DJIA soared 1,293 points (5.0%) and the NASDAQ jumped 385 points (4.4%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 02/28/20

The week ended with another wild, woolly and hair-raising day on Wall Street, as Cornoavirus mania spread around the world. The SkyNet SellBots took control of trading in overnight futures once again, sending US stocks sharply lower at the open of trading on Wall Street. From there, stocks zigged and zagged until a last-hour rally dramatically cut into the day’s losses.

The DJIA ended down 357 points (1.4%) and the NASDAQ managed to break even by the close.  US bonds continued to roar ahead to new highs.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 02/27/20

It was another wild, woolly and hair-raising day on Wall Street, as Cornoavirus mania spread around the world. The SkyNet SellBots took control of trading in overnight futures once again, sending US stocks sharply lower at the open of trading on Wall Street.

Ar precisely 10:30 AM EST (“funny” how that happens), the SkyNet BuyBots launched a spirited rally, erasing about 75% of the opening losses. But that was all she wrote. Stocks were quickly overwhelmed by waves and waves of pressure from the SellBots, ending just a few ticks above the lows of the day.

Dow plunges 1,100 points, bringing its decline from a record high to more than 10%

The DJIA plunged a record 1,190 points (4.4%) and the NASDAQ mini-crashed 414 points (4.4%).  US bonds continued to roar ahead to new highs.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 02/26/20

The SkyNet BuyBots attempted a rally in overnight futures trading, sending US stocks higher at the open of trading on Wall Street. From there, stocks zigged and zagged into a mixed close. The DJIA ended down 124 points (0.5%) but the NASDAQ managed to hang on to a gain of 15 points (0.2%).  US bonds continued to roar ahead to new highs.

Stay tuned as the battle of the SkyNet StockBots continues.

03/04/20 – Michael Lebowitz: A Black Swan In The Ointment

In 2007, Nassim Taleb wrote a bestselling and highly impactful book titled The Black Swan: The Impact of the Highly Improbable. The book uses the analogy of a black swan to describe negative events that appear to be very rare and occur without warning. Since the book was published, the term black swan has been overused to describe all kinds of events that were predictable to some degree. Read More.

Market Update Tuesday 02/25/20

US stocks got bashed, trashed and smashed for the second straight day as China’s Coronavirus continued to spread into several new countries around the world. The SkyNet BuyBots attempted a meager rally in the overnight futures, but that was quickly overwhelmed by waves and waves of pressure from the SellBots. Stocks ended just a few ticks above the lows of the day.

Stocks plunge for a second day as the Dow lost more than 800 points on Tuesday

The DJIA plunged another 879 points (3.2%) and the NASDAQ tanked another 256 points (2.8%). Bonds roared ahead to new highs.

10-year Treasury yield drops to record low of 1.31% as coronavirus hits the global economy

Stay tuned as the battle of the SkyNet StockBots continues.

US stocks got bashed, trashed and smashed today as fears about the spreading of  China’s Coronavirus were definitely back in “on” mode. The SkyNet SellBots took control of trading in overnight futures, sending US stocks sharply lower at the open of trading on Wall Street. From there, stocks zigged and zagged, closing near the lows of the day.

US stocks drop the most in 2 years as coronavirus fears rattle traders

The DJIA plunged 1,032 points (3.6%) and the NASDAQ tanked 355 points (3.7%). Bonds roared ahead to new highs.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 02/21/20

The on-again off-again on-again off-again on-again off-again fears about the spreading of  China’s Coronavirus were definitely back in “on” mode today. The SkyNet SellBots took control of trading in overnight futures, sending US stocks sharply lower at the open of trading on Wall Street. From there, stocks zigged and zagged into a lower close. The DJIA ended down 228 points (0.8%) and the NASDAQ plunged 174 points (1.8%). Gold and bonds roared ahead.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 02/20/20

The on-again off-again on-again off-again on-again off-again fears about the spreading of  China’s Coronavirus were back in “on” mode today. The SkyNet SellBots took control of trading at precisely 10:30 AM EST (“funny” how that happens), sending US stocks sharply lower until precisely 11:30 AM EST (“funny” how that happens), when the BuyBots sparked a rebound into the close, cutting into the day’s losses. The DJIA ended down 128 points (0.4%) and the NASDAQ dropped 66 points (0.6%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 02/19/20

The on-again off-again on-again off-again on-again off-again fears about the spreading of  China’s Coronavirus were back in “off” mode today, as the SkyNet BuyBots took control of trading in overnight futures, sending US stocks higher at the open of trading on Wall Street. From there, stocks wanderer into a higher close. The DJIA ended up 116 points (0.4%) and the NASDAQ  gained 84 points (0.8%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 02/14/20

The SkyNet StockBots slipped away early for the long holiday weekend as US stocks zigged and zagged their way to a modestly mixed close in relatively quiet trading. The DJIA slipped 25 points (0.1%) and the NASDAQ gained 19 points (0.2%).

Stay tuned as the battle of the SkyNet StockBots continues.