Brett Gallagher
Brett Gallagher
appearance companies earnings easier far less looked positive profit
One positive is that S&P earnings so far have looked better than the year-earlier period. Granted, comparisons are a lot easier as companies take less write-offs, but it's still something that's encouraging. I don't think we're going to have a big profit recovery, but we'll have the appearance of improvement.
build fund initial leaning managers selling toward using wonder
What I wonder is are we going to see follow-through selling after the initial drop, or are we going have fund managers using the pullback to build up positions? I'm leaning toward the latter.
durable economic extent good poor vacuum
To an extent we're in a vacuum where even poor economic statistics, such as the durable good orders, can't dissuade investors.
certainly ebb flow level market middle national news playing raised security seem sold talk technical
We seem to be certainly playing to the ebb and flow of the news on the Middle East. You had talk that the national security level would be raised and the market sold off immediately, then popped back up once it was dismissed. That's the kind of market we're in. It's rumor-driven, technical and the fundamentals are not playing a role.
problems worse
With pharmaceuticals, the problems are pretty well known. I don't think they're going to get any worse from here.
market seen wildest
It's the wildest market I've seen in some time,
boost good huge market outcome rally time unlikely
It's unlikely the market would get a boost from that kind of a result. This time we have such a good outcome priced in that I don't think we'll have a huge rally once this is over.
claims clear difficult employment jobs link missing moving point recovery stock takes talked time weekly whatever
Everyone has talked about employment being the missing link in the recovery, but as the weekly jobless claims have made clear for some time, employment is moving in the right direction, it's just moving very slowly. At whatever point a substantial recovery in jobs really takes hold, that's probably going to be a difficult time for the stock market.
businesses case earnings seem smooth suspect
It's always been the case of something you suspect but have never been able to prove. Earnings seem improbably smooth when you look at the businesses of the company.
certainly names sink stable taken tech
It may have taken a little while for (3M and Lexmark) to sink in. Lexmark is certainly not a bellwether, but it was one of the stable names in the tech sector.
certainly names sink stable taken tech
It may have taken a little while for (3M and Lexmark) to sink in, ... Lexmark is certainly not a bellwether, but it was one of the stable names in the tech sector.
analysis catching companies fallen higher looking market quality seems whose
It seems to me that this is a market where fundamental analysis has fallen flat. If you're looking for higher quality companies whose fundamentals are on the mend, you're not catching this market.
begin carry chicken flows follow momentum months nice six tend
It's a little chicken and egg. The flows tend to follow the market, but when you get a nice six months in a row, the momentum can begin to carry itself.
bad drive earnings economic either few front good last market news next season seen trading vulnerable
We've seen more bad news than good news on the economic front over the last few weeks, but the market has been trading higher. Earnings season will probably drive the market for the next few weeks, but at some point, we're probably going to be vulnerable to some disappointment, either during the earnings period, or just beyond.