Global Turmoil On The Rise

Markets are mixed in early trading amid headlines pointing to escalating global turmoil.  The Egypt situation is quickly coming to a head.  Oil prices have topped $100 for the firs time in many months as worries grow that the political unrest in Egypt could affect the Suez Canal which would affect oil shipments from the Mideast.Europe's markets are also lower across the board after a flare up in Portugal.  4 key govt officials have resigned or are expected to.  The country's benchmark 10-year yield spiked 126 basis points to...

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Still Testing The Overhead 50-Day

The markets are higher again in early trading.  Yesterday the S&P 500 tested its overhead 50-day average but turned lower from there and closed around its mid-point of the day's trading range.  This morning it is once again testing that overhead 50-day average near SPX 1624.  Ditto the Dow and the Nasdaq 100.The big news this morning was the EU and IMF telling Greece they have 3 days to prove it can fulfill its bailout conditions or risk not receiving its next tranche of aid.  Something tells me that this is going to be...

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Monday Morning Musings

Markets are nicely higher on the first day of the new quarter, with the Dow up +150 points in early trading.  Of course, its still very early in the day so anything can happen by the close.  There doesn't seem to be much news moving the market today, as it appears more like new money being put to work as the new quarter begins.  ONXX is up 50% after rejecting a takeover offer from AMGN.  And AAPL is up 2.8% afer reports that it registered the iWatch trademark in Japan.  It also got an upgrade and a $600 price target from...

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