Michael Sheldon
Michael Sheldon
Michael Sheldonis a former Australian rules footballer who played with Essendon in the Victorian Football League...
bond buying caught dried energy enthusiasm finally higher lingering prices rising worries yields
Buying enthusiasm dried up as the day progressed. Lingering worries over rising energy prices and higher bond yields may have finally caught up with the market.
bother continues faster greenspan impress rates rise stress
If Greenspan is more hawkish, implying that rates will rise faster than thought, that may bother investors, ... If Greenspan continues to stress that rates can rise at a 'measured' pace, that may impress the market.
advance broader entered following looks period profit short start strong taking terms
In terms of the broader market, it looks like we may have entered a short period of consolidation or profit taking following the strong advance at the start of this year.
comments deflation fed higher implies less sets stage worried
If you take all those comments together, it implies the Fed is less worried about deflation and more about inflation, all of which sets the stage for higher rates.
data difficult economic market next several weeks
The economic data over the next several weeks are going to be difficult to interpret, and it'll be interesting to see how the market reacts,
bit certainly gm impact microsoft news
The Dow is up and GM is certainly having an impact on that, (while) the Microsoft news is a bit of a psychological damper.
arm beat bell certainly estimates guidance major positive raised reported shot stocks tech three yesterday
All three major tech stocks that reported after the bell yesterday beat estimates and raised guidance, and were certainly a positive shot in the arm for tech investors.
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All in all, I think investors are trying to put on a positive face and push stocks higher into the year-end. I think the market is going to try to build on yesterday's modest gains.
improved last market tone week
The market tone has improved over the last week or so,
breadth build markets
The markets were able to build on yesterday's gains. Market breadth was encouraging.
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The market's trying to stabilize. We're seeing some strength in a few of the beaten-down sectors, including technology and basic materials.
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The markets so far have been unable to build on yesterday's gains, and right now are being held hostage by the bond market. But we are seeing some strength in semiconductors, energy stocks and some of the metals companies.
current early gains given investors levels likely markets profit reluctant remain rest sell taking
The markets remain overbought at current levels and could see some profit taking at any time. However, market internals remain very positive, so investors are reluctant to sell much into that. Given this scenario, we are likely to see more gains through the rest of the year, and some consolidation in early 2005.
beyond clearer difficult expect fed headway higher market move next until week
The market is very oversold right now and I expect it to move higher over the next week or two. But beyond that, it's going to be very difficult for it to make much headway until we get a clearer sense of how much the Fed is going to move.