Peter Greene
Peter Greene
Peter Greeneis an American character actor, generally known for playing villains. Peter lives in New York...
ProfessionMovie Actor
Date of Birth8 October 1965
CityMontclair, NJ
alone average delay helping hurting increases potential putting stocks talk warning
You have a lot of things going on. The Dow Transportation average is putting a real damper on things, and Maytag's warning is hurting retailers, ... Talk of a delay for any potential conflict, let alone 45 days, is not helping stocks as it just increases the uncertainty.
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You have gains in the more cyclical names versus selling in Citigroup and J.P. Morgan. You also have the Dow getting a lift from some positive short-term movement in the dollar,
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When the dollar declines, there's less incentive for international investors to hold U.S. companies' assets because they decline in value. It also impacts perception. People want to see a stronger dollar to show America can stand on its own, particularly when there is all this uncertainty about North Korea, Iraq and Bush's new economic team.
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What's happening today is very telling of where the market is right now. Typically, when there is negative news people tend to make 'flight-to-safety' moves into bonds and gold, but that isn't happening. That tells me that asset classes in the near term are very tired, and that we could see more of a pull back from here over the next few months.
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War news is having a fingernail-biting impact generally. Right now, there's a sense of people not wanting to do much until the troops get to Baghdad, which could happen in the next day or two. But there's also the hope of some sort of diplomatic resolution before this situation becomes a runaway train. I don't think either side wants to see this prolonged.
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The opinion also on Wall Street is that more rate hikes are likely to follow this. And if that occurs, there's still uncertainty in the overall market and consequently it will be tough to get a big rally off the low, ... The market has certainly become tired. The psychology is that of a bear market. We get strong openings only to close either at the low of the day or near the low of the day. Witness what we saw on Friday. So on balance, yes, that psychology has changed.
ability brand combined gives product strong
Maytag is a very strong brand. It's had its challenges, but when combined under a new entity, it gives them the ability to differentiate its product offerings by brand and price.
ability brand combined gives product strong
Maytag is a very strong brand, ... It's had its challenges, but when combined under a new entity, it gives them the ability to differentiate its product offerings by brand and price.
stock suspicion
My suspicion is the stock is not doing much now, it's not earth-shattering.
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On the Dow, you have gains in the more cyclical names versus more selling in Citigroup. You also have the Dow getting a lift from some positive short-term movement in the dollar,
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Next week may be a little more challenging. We're really looking forward now to third-quarter profits and the market could be in a trading range until then.
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Obviously, these stocks have had a huge run-up. The theory is to sell on the news. That's what's occurring is you're selling on the news.
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Right now it looks pretty benign, with people selling a little after the retail sales numbers. Long-term I'm bullish, but I'm getting concerned in the short-term as to what is going to sustain the psychology if the economy doesn't start to show more of a pick-up.
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Lowe's was maybe a bit of a letdown this morning, and the other retailers and some of the homebuilding stocks are down. The Dow transportation average is also weak today, despite UAL's gains. There's really no new news today to push us too much in either direction. We've had a great run recently and a minor decline isn't so bad.