Summary   Stocks posted another gain last quarter as measured by the two major indices (the S&P 500 and the Dow Jones Industrial Average, see Figure 1), but it really didn’t feel like a good quarter, did it?  With the…

Summary   The stock market rally continued through the second quarter of 2014.  There was a brief -4% “correction” in early April but stocks quickly recovered and continued to make modest new highs throughout the rest of the quarter.  The…

Summary After a very strong 2013 it was reasonable to expect there would be some period of consolidation in 2014.  Stocks gave back about 5.7% through February 3rd before rallying to new highs by the end of that month.  March…

Summary Stocks continued their rally in the third quarter.  The adage, “Sell in May and Go Away” has gained favor in recent years, in spite of the fact that the past two years have seen a very nice summer rally. …

Summary The positive performance of the financial markets continued from the first quarter until the fourth week of May, when things changed dramatically.  On May 22nd, Federal Reserve Chairman Bernanke allowed that since the economy was improving, at some point…