Peter Boockvar
Peter Boockvar
basically fatigue market rather showing signs stuff technical
It's basically technical stuff rather than anything fundamental. The market has been showing signs of fatigue here.
came earlier highs market near trading within
Earlier this week, we came within a whisker of multiyear highs for the S&P 500. But the market still has a lot of headwinds. We're still near the upper end of a trading range.
good results retailers
The results from retailers were good but not extraordinary.
concerned couple days including large market past possible warning
We've had large companies, including retailers, in the past couple of days warning about a slowdown in sales. That is enough to get the market concerned with a possible slowdown in the economy,
companies gm goes problem
The problem with GM is that once it goes down, it drags many other companies with it.
add bit company concerned couple days earnings financial higher housing interest large market mix past possible rates retailers sector stocks warning
Some company earnings have been good, but we had large retailers in the past couple of days warning about a slowdown in sales. That is enough to get the market a bit concerned with a possible slowdown, ... Add higher interest rates to that mix and what you have is the housing sector and financial stocks suffering.
crazy giving questions week
Noone questions why we were so crazy the first week of January, we're giving back some of the fluff rally.
certainly earnings good pockets strength
With good earnings ... there were certainly pockets of strength.
buy curve good housing indicate reason response slowing stocks trading year yield
To buy stocks just because it's the end of the year is not a good reason to do it when the fundamentals indicate otherwise. The yield curve is flattening in response to the slowing housing market. The implications can't be ignored. That's why we're trading the way we are.
turns weapons
This weapons thing really turns up the heat.
economy fed hands mostly showing signs sitting start talking waiting
It's mostly sitting on your hands waiting to see what the Fed announcement is so we can start talking about something else. We need to see some confirmation that the economy is showing signs of improvement.
account asset news seen
It may just be some pre-Fed asset allocation or positioning. I haven't seen any news to account for this.
data economic good indicator key national number ourselves rest seeing setting
This national manufacturing number will be a key to the market. The economic data that we are going to be seeing now will be a good indicator of what we could be setting ourselves up for the rest of the year.
cusp market
We are concluding a mini-bull market - and we are on the cusp of a mini-bear market.