Matt Ruane
Matt Ruane
bear horizon past push
We're in a bear market. You're going to see these little rallies on short-covering, but there's nothing (else) on the horizon to push us past that right now.
basis bounce form levels liked market next order possibly sell
I would have liked to see the market sell off even more in order to form the basis for a better rally, but I think we could possibly get a bounce from these levels in the next day or two.
normal run seen
But this is a normal pullback after the run up we've seen in October. I wouldn't read too much into it.
comfort comments provided sold
Bush's comments provided some short-term comfort. But shortly after, we sold back down again.
coming companies despite few gloom holding market notable
More and more companies are going to be scrutinized in the coming months, but despite all this gloom and doom, the market is holding up pretty well with a few notable exceptions, like WorldCom.
fits resolution sideways sort trading until
We've been trading sideways for months, and until we get some sort of resolution with Iraq, we're going to keep trading in fits and starts.
bear bounce false horizon nasty past people push quite seeing sitting stocks
We're seeing a little bounce from oversold conditions, with stocks not being down quite as much as they were this morning, but it's still nasty out there. We're in a bear market, where we have these false rallies on a little short-covering, but there's nothing on the horizon to push it past that. It's also the end of the quarter, so you've got a lot of people sitting on the sidelines.
again ahead airlines best broader fed filing last light negative sets surprise volume weeks
You have pretty light volume ahead of the Fed meeting. You also had the Dow have one of its best weeks in 15 years last week, so you're going to see some pullback from that. Airlines are down again and it's pressuring the broader market, particularly the Dow. US Airways' filing wasn't a surprise but it still sets a negative tone.
drifting market next sideways time trading waits
We're really in a trading range, drifting sideways for the time being as the market waits for its next catalyst.
acting clearly dismal few growth lifting money people time
The semiconductors are lifting on very dismal volume, with very few people acting before the anniversary. It's a continuation of yesterday, and clearly there is a little money going into semis, but it's going to be a long, long time before there is any real growth in the sector.
bringing companies forecast growth half higher light markets near people second seeing term
The near term out of these companies is shaky. It's the forecast for higher growth in the second half that is really bringing markets higher today. People are seeing a little light at the end of the tunnel.
comments nice profit reports run seeing selling stocks
Stocks had a nice run and now we're seeing across-the-board profit taking, which is healthy. Reports of Cheney's comments didn't help, but we would be seeing a little selling anyway.
almost bad built buyers companies front good keeping news political reporting results week
There's a lot of nervousness on the political front and that's keeping the buyers out of the market. We've got 50 significant companies reporting results this week - but at this point, bad news is almost good news, because it's so built in to people's expectations.
companies good money solid work
There's also still some money being put to work out there for solid companies with good fundamentals. It's just really selective.