Elvis Picardo
Elvis Picardo
bit direction good interest looking lower markets news next rates
Clearly, the markets are still looking for direction. I think the next bit of good news will be from the Fed, and if there is any hint of lower interest rates that should be really bullish.
changed few last pattern seen selling strength
We have seen selling into strength and that pattern has not changed in the last few weeks.
charge closing commodity crude energy giving gold highest led oil surprising usual
Today's charge has been led by the usual suspects: energy and commodity stocks, which is not surprising giving gold prices... and crude oil closing at its highest ever.
definitely rotation sector seeing
We are definitely seeing some sector rotation into technology.
gains hard looks rally
This rally looks sustainable because the gains are smaller. It is not like you have a 250-point gain in one day, which is hard to keep up.
ability bad market might move shake
We might be seeing, after a long time, an ability to shake off bad news. That's what we need to see this market move higher.
concerns fall few iran past rise seen today
Over the past few months, we've seen these concerns about Iran and Nigeria. We've seen them rise and fall and today was a day when those concerns were predominant.
affect ahead cautious direction greatly investors looking market wait watch
Overall, the market is looking for some direction ahead of Cisco, which is going to affect the market greatly tomorrow. Investors are being cautious ... It's a wait and watch approach.
earnings economy faster growth people weak
Overall, fourth-quarter earnings growth will be weak because the economy has slowed much faster than people had expected.
bad bull classic indicator market positive short stocks
It is a classic indicator of a bull market when stocks don't go down even on bad news. It is a positive thing for the short term.
biggest brought coming impact market operate particular profit today united whose woes
I think the biggest impact today was the profit warnings coming out of the United States. We had some real heavyweights like Lucent, whose woes in particular brought Nortel down because they operate in the same market space.
acted asking fed investors quickly
I think investors are asking why the Fed acted so quickly and so decisively.
cycle early easing economy fact fed focus investors market means might next position rally recovery seeing
From here on, I think the market will focus on the fact that the easing cycle is going to come to an end pretty soon. Which means the Fed might be seeing a recovery in the economy early next year. Investors are going to want to be in a position that they'll be in the rally once this happens.
despite energy high investors months profits recent run stocks table taking tremendous
Transportation stocks have had a tremendous run in recent months despite high energy prices, so it could be that investors are taking some profits off the table here.