Douglas Altabef
Douglas Altabef
attitude earnings higher late numbers reaction return saw seeing starting talk whisper
Earnings have been good, but what you're starting to see is a return to the attitude about earnings that we saw in the late 1990's, where you're seeing more talk about whisper numbers, higher expectations, and a more punitive reaction to numbers that disappoint.
continues economic far few last news ongoing played profit recovery relief seeing taking
Profit news continues to be good, and we are seeing some relief from the profit taking of the last few weeks. But there is an ongoing tug-of-war between 'we've come too far too fast,' and 'the economic recovery is strong' and you're seeing that played out on a day-to-day basis.
expect gains next seeing
I expect we will be seeing those kind of normative gains next year.
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.
clearly economy market reacting seeing signs
Clearly you're seeing conflicting signs about the economy and the market reacting to that.
acting great improvement june market resilience seeing
But I think the way the market is acting is actually healthy. You're seeing a real resilience on the part of the market. You're seeing a willingness to shrug off or contextualize not great news, which is a big improvement over June and July, when if the market was open, it was down.
bias continue conviction forecasts moderately people seeing seem stock support upwards year
The forecasts for the second-half of the year for the most part seem to support a recovery, but to some extent, that's already priced into the market, so you're not seeing that much stock reaction. There's not a lot of conviction and some people will take profits. But I think there will continue to be a moderately upwards bias for the remainder of the year.
clearly conviction market seeing
The market is clearly in a cha-cha mode. There's very little conviction and that's why we're seeing this kind of volatility.
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.
accounting cheap loose people polyester ready shoes thread trust worried worries
These accounting worries go right to the underpinnings of trust and confidence. If trust isn't there, you're tugging at the loose thread of a cheap polyester suit. People are worried about what other shoes are getting ready to drop.
advance caused coming comments oil
Ostensibly, the advance was caused by oil coming down and some of the comments with the beige book.
figure people trying
People are trying to figure out what the real-world implications of AOL's announcement are.
exciting market tech year
We think one of the more exciting opportunities this year in the market are in the tech sector.
compelling days few news reason stocks today
There's no real compelling reason for stocks to be up. But you've got little new news and there's an upward bias, so we're up today after a few days of selling.