Al Goldman
Al Goldman
builds buy looking main market message momentum money reason sidelines today
The message of the market today is that there is a lot of money on the sidelines and that money was looking for a reason to buy. And the main reason to buy is that we're going up. Momentum builds on momentum.
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There's only one reason to buy stocks and that is to participate in a company's growth of earnings and I don't know any sector of the economy that offers superior growth prospects looking out two, three, four, five years than technology and selected Internet stocks. It's been working for 10 years now and I'm not going to buck a trend like that. You buy dips. We had one heck of a dip that reached a crescendo last week and people who bought Friday or early Monday have reaped very nice profits.
business control fed reason
And the Fed is in business for one reason only, and that is to try and control inflation.
benign correction days earnings ended five healthy main market picture profit reason recovering remains rising row sea slowly taking technical three weeks
I think the main thing that's going right for the market is that we still have a very healthy economy, with rising earnings and benign inflation. On a technical side, I think the correction ended three weeks ago. The market has been slowly recovering its sea legs. We had five days up in a row on the Nasdaq composite, and that is the reason why the profit taking yesterday. But the big picture still remains very positive,
bad based close levels news reasonable
I think we could see the Dow close at 11,000 and the S&P close at 1,300. We could get some bad news but based on what I know right now, I think those are reasonable levels to attain.
bear bull dead mood
It's not going to be a one-way trip. But the bear is dead and we're transitioning from a bear mood to a bull mood.
catch change glass good half last market modest month mood rally shift
The big change in this market the last month or so has been a mood shift from 'the glass is half empty' to 'the glass is half full', and that's why we've had a good rally and a very modest time-out to catch our breath.
best feeds market mood percent
The best stimulant you can have for a market is an 'up' market, and it feeds on itself. The market is 90 percent emotions, and the mood shifted.
bears keeps love market somewhat
The bears just won't give and I love having bears out there. It keeps the market somewhat healthy.
bears deserve economic economy miserable news pace points slowing
The bears are going to have another miserable day, and they deserve it. The economic news points out that the economy is slowing from the over-heated pace in the first quarter.
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The Fed sounded a bit less certain about the need for future rate hikes, saying further policy firming 'may' be needed.
dramatic fed move today
The Fed made a dramatic move today and it was needed,
optimistic technical
I'm very optimistic on the long bond. The fundamentals are there and the technical underpinnings are still positive.
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It's been horribly grim this week. There's a high level of gloom and doom in the market and a low level of optimism.