Folks, Dallas Fed President Richard Fisher spoke to CNBC this morning. When asked about whether the FOMC will continue to experiment with monetary policy, he responded, “Whatever we do has to have a complementary side, a fiscal policy that channels it properly.” That’s right: without the help of legislators and the Obama administration, there simply [...]

Folks, the market looks like it might be in a bit of trouble today. I warned you earlier this week about end-of-month activity that would come into play—portfolio managers start playing with their positions and putting up window dressing to approve the appearance of their holdings. At the same time, Europe is still hanging on [...]

Folks, as I mentioned yesterday, the end of the month and the end of the quarter can be tricky times. There is a lot of activity going off this week—much more so than normal—which happens to coincide with a market that, in my mind, is still underinvested. All that scared money on the sidelines needs [...]

Folks, today is the first day of both the last week of the month and the last week of the 3rd quarter. In addition to the normal end-of-month activity, a great deal of OTC options and listed options activity comes due and goes off on Friday—it’s almost like a second expiration. The action and volatility [...]