Blog: All posts by Tom Haugh
Escalation Clause
By Tom Haugh on November 8, 2010
Good morning. Huge gains for the market last week, with the SPY’s up 3.6% to close at 122.72. This was primarily due to the announcement by the Fed on Wednesday that they were going to peg the so-called quantitative easing (QE II) at around $70B per month to a total of $600B. I think this number is in excess of the “street” number of $500B and I suspect the $70B per month is a little more aggressive than most thought before the announcement.
Politics As Usual
By Tom Haugh on November 1, 2010
Good morning. A very quiet finish to the market last week as the nation prepares to go to the polls this coming Tuesday. Someday someone will explain to me (officially) why elections are not held on a Sunday like in Europe, but I guess the unofficial reason that those in power really do not want big turnouts will suffice. This election, at least in Illinois, has been particularly nasty, with a lot of outside money entering the state (a lot due to the absurd Supreme Court ruling last year) that is virtually untraceable as to its real source.
A Victim of Circumstance
By Tom Haugh on October 18, 2010
Good morning. It was a very interesting week for the market last week, with stocks and bonds heading in different directions. The SPY was up one percent on the week to finish at 117.7, the highest close since May 3 of this year, and within striking distance of the years’ top print of 122.12 on April 26.
Skewed Volatility
By Tom Haugh on October 11, 2010
Good morning. The Federal Reserve gave us another strong market last week, with the SPY up 1.93 (1.7%) to close at 116.54. That is the highest close in the SPY since last May 12. The VIX was down sharply on the week, closing at 20.7 (down 8%), which is the lowest closing since May 3 of this year. Again the investing public appears comfortable with the price of insurance on the market decreasing as the market advances, something that, to me, has always seemed counter-intuitive.
Backfire
By Tom Haugh on September 27, 2010
This week is the last chance for you to register for this great AND FREE seminar: If you are interested in learning more about my managed money program, the Protected Index Program (PIP), PTI Securities & Futures is hosting a no obligation, no-pressure, complimentary In-Office Protected Index Program Seminar on Saturday, October 2nd, 2010, in a classroom overlooking the CBOE at PTI’s Chicago Loop Office from 9:00am to noon. A continental breakfast, coffee bar and classroom materials will be provided. Topics covered include: review of option basics, investment program objectives, diversification solutions, SPY basics, index portfolio examples, option time decay and PIP portfolio example, strategy expectations and objectives and longer-term fixed income products. Space is limited and all attendees must register at www.PTISecurities.com/Education.htm – Come out, have a cup of coffee with me, and meet some of PTI Securities’ experts.
Good morning. It was another positive week for the market last week, or actually was a very strong Friday after a lackluster first four days. The SPY closed up 2.33 (2.1%) on the week to finish at 114.82, all but one cent of that advance coming on Friday. The economic numbers had been generally positive for the week, and when the Durable Goods number on Friday came in less than forecast in total, but better with the Transportation orders out, the market ran to the upside.