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@theMarket: Are We There Yet?
By Bill Schmick,
05:21PM / Friday, October 10, 2014
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No, is the short answer to that headline. The S&P 500 Index needs to test 1,905 or thereabouts before all is said and done. You might ask why.

The talking heads will tell you weak data in Europe is at fault. Others will blame the recent strength in the dollar. Then there is the uncertainty of the mid-term elections now less than a month away. The problem with all of the above is that investors have known all about these issues for months and months. So why react now?

Readers will recall that since the springtime I have been waiting for the markets to test what is called the 200 Day Moving Average (DMA), which is a popular technical indicator that investors use to analyze

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@theMarket: October Starts Off on High Note
By Bill Schmick,
06:06PM / Friday, October 03, 2014
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Volatility was the buzz word this week in the stock market. The averages moved up and down by a percent or so on a daily basis but ended the week on a high note. Can we expect more of the same?

Traditionally, at least the first two weeks of this month have been volatile, so the good news is that we are half way through that period and so far there has been scant damage to the averages. At one point this week the S&P 500 Index was down about 4 percent from its highs but stocks found support around the 1935 level and bounced from there.

Friday the markets were galvanized by a jobs report that showed 248,000 job gains in the month of September. That drove the unemployment rate

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@theMarket: Wash, Rinse and Repeat
By Bill Schmick,
08:20AM / Saturday, September 27, 2014
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The dollars running, stocks are falling, bond prices are jumping while commodities are tanking. Welcome to another week in the financial markets. Expect more of the same in October.

As September, the worst month of the year for markets, comes to a close (next Tuesday) volatility appears to be rising. Stay strapped down, however, because we are not through the woods quite yet.

Historically, the first two weeks of October can get pretty hairy. Some of us might recall October of 1987 as an example.

So many of us have nudged up our exposure to the equity markets this year in pursuit of more and more gains that any sell-off scares the bejesus out of us. The 1-2 percent

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@theMarket: Waiting on the Fed
By Bill Schmick,
10:36AM / Saturday, September 13, 2014
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It should be clear to you by now that in the United States the Federal Reserve Bank is calling the shots in our financial markets. To a lesser extent this phenomena is happening all over the world. As such, the markets did little this week because the Fed doesn't meet again until Tuesday.

The S&P 500 Index has simply been trading in a tight range between 1,970 and 2,000. Although stocks are marking time, there has been some movement elsewhere in the financial spectrum. Take the dollar for example. The greenback is on a tear against most other currencies, but specifically the Yen and the Euro. As the dollar has strengthened gold, silver and oil have plummeted.

This is

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@theMarket: What's Up With Bonds?
By Bill Schmick,
07:31AM / Saturday, August 30, 2014
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At the beginning of the year, Wall Street was certain that interest rates were on their way up. Investors dumped all kinds of bonds anticipating that prices would plummet. Bond prices did the upset. Go figure.

The reversal caught just about everyone by surprise (including me). The thinking behind the bond call was straightforward. The Fed announced it was winding down its stimulus program. It also planned to begin raising interest rates sometime in 2015. Bond players, as they usually do, were expected to anticipate that move and begin to sell U.S. Treasury bonds this year. It all made total sense from an investment perspective. It was the end of a 30-year bull market in bonds so

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