Ken Tower
Ken Tower
april areas days glory high last market shooting technology willing
This was one of the last areas of technology that still had the great, glory days of April going for it. The market is just not willing to put up with those high P/Es and is shooting them down one by one.
evidence money optimistic sidelines
What would make me more optimistic is if there was evidence that money on the sidelines is being put to work. But I'm not convinced.
data economic fed meeting negative piece subdued surprise unless week
Unless we get a negative surprise on a piece of economic data that's really out of the ordinary, then it's going to be a subdued week with the Fed meeting right around the corner.
crash fill greenspan happened market months planet spot sure took
There is no person on the planet who is going to be able to fill Greenspan's spot without a test, ... I'm not sure that it's a coincidence that the market crash of 1987 happened two months after Greenspan took office.
attract bulls cash december energy high hooks money provide top trading willing
We are at the top of a trading range. Everyone's willing to be bullish, but is the cash there to provide the energy the bulls need? Or is the December high the high-water mark? Dow 11,000 is one of the hooks the bulls will use to try and attract more money into the market.
again break crossroads danger major quickly range slide trading unable upside
We are at a major crossroads here. If we are unable to break out of this trading range to the upside soon, then there is a danger that we could quickly slide back down again to the lows.
bad disaster fall lows seen until yesterday
Yesterday was a disaster for the bulls. We're right back to the lows we've seen lately, and until we fall through those, it's bad but not devastating.
clear cloudy direction either evidence market naughty nice picture short sit technical tempted wait whether
With the technical picture so cloudy you may be tempted to sit this one out and wait for clear evidence of whether market direction is naughty or nice before initiating either long or short positions.
companies correction earnings good investors move seen
When the companies actually come in with their earnings announcements, we're going to move a lot higher. I think when investors look through the rubble after the correction we've seen they are going to find some real good values.
broad despite remains sentiment trader
Despite yesterday's broad advance, trader sentiment remains sober.
began investors rally remain skeptical
Investors remain skeptical of the rally that began in April. Therefore, the rally could restart.
energy focus ignored interest investors prices rates rising yesterday yield
Investors rejoiced yesterday as energy prices fell, but they ignored rising interest rates. I don't think it will be too long before the focus shifts back to rising rates and an inverted yield curve.
break expect experience market narrow range remain trading trapped
In my experience the market doesn't remain trapped in that kind of narrow trading range for long. So expect the market to break out. But which way?
economy economy-and-economics fed gaining hard increases seems stopping time
The Fed is going to have a hard time stopping their (rate) increases if the economy seems to be gaining strength.