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@theMarket: Markets Hope for Trade Breakthrough
By Bill Schmick,
05:13PM / Friday, November 30, 2018
This Saturday evening, Donald Trump and Xi Jinping will sit down to dinner in Buenos Aires at the G-20 conference. Investors are holding their breath, hoping that the two might come to some agreement that could lower tensions and avert a full-out trade war between the U.S. and China.   Given past rhetoric and the president's mercurial temperament, anything could happen. Xi Jinping and his advisors, after years of dealing with Washington, believe if they just hang tough and wait Trump out, the outcome will be "business as usual" on their terms.   Unfortunately, Wall Street and the media have created another binary event out of the dinner. Either

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@theMarket: It Is a Black Friday on Wall Street
By Bill Schmick,
11:11AM / Saturday, November 24, 2018
Black Friday sales are in full swing. Normally, today is all about the retail trade. Consumers spend the day waiting in line, picking up heavily discounted "door buster" deals, and generally starting their holiday gift shopping. This year, it appears traders are also holding their own Black Friday sales.   The day after Thanksgiving, the stock and bond markets are open for a half day. Few turn up for work, so trading desks are usually manned by a skeleton crew, volumes are light and the indexes meander about the center line. As such, what happens on Black Friday has little consequence in the grand scheme of things.   The real action is before a

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@theMarket: Markets Need to Hold Here
By Bill Schmick,
01:24PM / Saturday, November 17, 2018
This week saw a re-test of the October lows. That is to be expected in most stock market corrections. What is important to the future well-being of equities globally is that the averages do not decline much further from here.   That does not mean that if the S&P 500 Index, for example, falls by another percent or so the ball game is over. Remember, folks, calling the levels of the stock market is an art, not a science. Sure, we could overshoot (most times we do), thrash around a bit more, and then recover. What I don't want to see is a solid and definitive drop lower over a week or more.   On the S&P 500, if we were to break 2,685, the next level of

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@theMarket: Stocks Take a Breather
By Bill Schmick,
06:23PM / Friday, November 09, 2018
Stocks are in the process of consolidating after the big gains over the last week or so. So far, the October sell-off has led to a recovery of about half of what was lost. In the two months ahead, we should see even further gains.   No matter how much we would like it to, the stock market rarely goes straight up. It is one reason why I constantly advise clients not to check their portfolios on a daily, weekly, or even monthly basis. And never check them in down markets. Why put yourself through that emotional turmoil — especially when you have no intention of using the money anytime soon.   As we now know, the Democrats regained the House this week. As I,

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@theMarket: October Lives Up to Its Name
By Bill Schmick,
03:42PM / Saturday, October 27, 2018
It happened like clockwork. Earlier in the week, all three main U.S. averages re-tested their lows and then proceeded to bounce back, only to give it all back. That's what happens during corrections, but it is not over yet.  After all, it is October.   Readers will recall that last week I wrote that nine out of 10 times markets will re-test their recent lows. Naturally, this is more of an art than a science, so prices can bottom somewhat above or below those lows. In this case, the Dow hit its lowest level in four months. The S&P 500 Index slipped below its recent lows while NASDAQ got hit the worst, wracking up a total 10percent decline from its

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