Matt Ruane
Matt Ruane
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.
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.
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.
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.
comfort comments provided sold
Bush's comments provided some short-term comfort. But shortly after, we sold back down again.
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.
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.
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.
billion bush dividends high hope pay plan range stocks
It's all about the Bush plan today. Any stocks that pay dividends are doing well today, particularly telecoms and utilities. But I hope that this is not a short-term solution. A range of $300 billion to $600 billion is pretty murky. We're going to have to hope that it comes in on the high end or there's going to be disappointment.
certainly clearly good labor market number positive surprise today
It's a surprise reversal today after the labor number this morning. The resignation of O'Neill was certainly a positive for the market. That was clearly the catalyst. The market was also getting a little oversold. And you have some good participation from tech.
bear short typical
It's a short-covering rally, short term, typical of a bear market.
ibm intel last seeing steps tech texas
It's all Texas Instruments today. After IBM and Intel last week, we're seeing tech take two steps forward, one step back.
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.