Roy Blumberg
Roy Blumberg
bit correction defensive found hot investors money prices ride stay tech until wait winners
Investors have to be patient. You still have to ride the winners at this point, which are usually found in technology. I think you need to be a little bit more defensive in where you are in tech and biotech. But you have to wait until you get that correction and prices stay down. Until then, the money is hot right now and the hot money is going back to many of the same names.
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The market is up so much that it's got to become a little bit more difficult to make progress. I don't think it's necessarily a sign of anything big I'm bullish, but not enthusiastically, jumping up-and-down bullish.
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There's suddenly this new possibility that the Fed will tighten monetary policy again. Most people were going on the assumption that that was not going to happen.
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Take away the Cisco article and you would have had a much better trading day.
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Even though the regular rate was slightly higher than expectations, right now the market is willing to discount the fact that energy prices are an important component. The reality is, it's an important sign and inflation is picking up. The fact is, people have to start taking a look at energy prices as a concern.
bad driver earnings funny good market offending positive quite reports
This is a funny kind of market, because earnings aren't really a positive driver for the market and haven't been for quite some time. The good ones don't really help, but the bad reports slaughter (the offending companies).
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They're trying to turn the boat very, very slowly and Wall Street may not be happy in the initial stages that they're doing that fast enough. So the first cut may not have as big an impact on stock prices as it should, but it should have a nice impact on the economy.
average driving ended limited line lower number says soldiers stocks year
The Nasdaq advance/decline line actually ended the year lower than where it started, and that says that the soldiers weren't really participating, that it was a limited number of stocks driving the average up.
gains hold market pulled stocks technology
Technology stocks weren't able to hold their gains and the market pulled back.
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Technology is really driving the market but we are starting to see a focus on energy. I like these stocks and it looks like they will continue to perform well. I think that group has made its bottom and it's going to start to slowly work higher.
continue earnings economy employment good meanwhile numbers pickup picture power strong suggest therefore wage wall
The strong employment numbers say there's still power out there in the economy and therefore the earnings picture will continue to be good. Meanwhile the hourly wage number was not that strong so it doesn't suggest any pickup in inflation. So it's a good number for Wall Street.
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Basically, if any of the economic numbers are too far off of expectations -- especially after Greenspan's comments -- that's going to make investors nervous.
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This lessens the possibility that the Federal Reserve will tighten monetary policy again at their next meeting. One more increase was probably built into the market, so it's now being taken out of the market. That drove bond prices higher, and, with yields coming down, makes stock prices more attractive.
bonds caps economy event large means next number potential time
The next potential market-moving event is the PPI. Every time there is a number that suggests the economy is too strong, bonds come under pressure, which means large caps come under pressure.