Douglas Altabef
Douglas Altabef
attitude bad good half market news tenacious
I think the market is beset with tenacious negativity. It's a 'glass is half empty' attitude in the market, where bad news is interpreted as bad news and any good news is just OK.
among anxiety bad certainly earnings economy good individual season
It actually isn't a bad day -- it's a good day for techs. I think the most important thing is that earnings season is going pretty well. A lot of this is perception, and the economy may not be robust, but it's not sick. There's certainly a lot of anxiety out there among individual investors.
accounting bad impact market ongoing problems scrutiny wants
The CA investigation is an ongoing thing. They've had problems long before accounting scrutiny was fashionable, so the impact of that is muted. There is the sense that the market wants to shrug off the bad news.
abysmal bad current economy happening interest levels positive rates rising
However, the rising of interest rates from the current abysmal levels wouldn't be a bad thing, as it would be happening because of positive reasons, because the economy is strengthening.
events friday market pricing reaction reality terrible
You had a terrible day Friday with the market pricing in the reality of these events and you have a continuation of that reaction now. There are no surprises. It's pretty much across-the-board negativity.
case expect higher january jump lower massive people percent profit run wanting year
We expect the year to end 2 to 3 percent higher or lower than where it is now. The case for it going down is a massive run of profit taking. The case for it going up is people wanting to get a jump on the January rally.
center focus good iraq prospect recession
With Iraq off center stage, there is more good to focus on than not. The prospect of a double-dip recession will fade, I think.
companies future less report
What companies report now is less influential than what they say about future quarters.
exciting market tech year
We think one of the more exciting opportunities this year in the market are in the tech sector.
days few gains managers market money quarter
My sense is that you'll see a few more days of gains as a lot of money managers want to be long the market through the quarter end.
cue early forecasts given market next rest taking trend year
On any given day, the market is taking its cue from forecasts and results. Juniper was negative, so that's spilling through the Nasdaq. I think, overall, though, the trend through the rest of the year and into early next year will be more positive.
beginnings economic fast foot iraq next people pulling putting six
On a macro level, we are at the beginnings of an economic recovery, not as fast as some people want, and we may have some altercation with Iraq in the next six months. That uncertainty is putting the foot on the accelerator and pulling it off the accelerator at the same time.
anyone conviction expected great last market reality seeing tone week
We're seeing the reality of a market that does not have any great conviction. Anyone who expected a linear, 'We're off to the races' kind of tone after last week was mistaken.
action data disconnect discussion economic intense late looking market maybe negativity rest worked year
We're looking at the first day of the rest of the year and it's looking like more of the same. On an up note, there is more discussion that maybe we have worked through some of the intense negativity of late and that the disconnect between the economic data and market action may end soon.