Tim Heekin
Tim Heekin
behaving markets matter might negative numbers people surprised turn
A lot of people are surprised that the markets are behaving as well as they are. But there's a sense that even the negative numbers don't matter as much as they might have, that markets are preceding the turn of the economy.
favor growth
A lot of growth equities are in favor right now.
economic friday hugely news next rest week
There's no economic news out Friday or Monday, and the economic news the rest of next week is not hugely influential,
bounce correct driving seeing sold
There's nothing fundamental driving these gains. The Nasdaq had sold off over 10 percent, the Dow and the S&P had started to correct as well, so you're seeing a bounce off of that.
badly bond flew looking money people performed performer sector tech worst
The tech sector as a whole has performed so badly this year; the Nasdaq has been the worst performer year-to-date. I think a lot of money flew into the 10-year bond during the conventions, during the Olympics, and now people are looking to put their money into the beaten-down sectors, like tech.
action driven fact hanging namely negative news
Action is being driven by the news of the day, namely Microsoft, Nortel, Qwest, ... The fact that we're hanging in there with so much negative news out there is good.
healthy last looks market months move strong
You've had a strong move in the market in the last two months and this to me looks like healthy consolidation.
few leadership lose next past selling software support tech tend three top
Semiconductors and software have been the leadership for the past few months, so when there's tech selling now, they tend to lose support first. But we're at the top of a range, technically, so we're going to see some selling for the next two or three sessions.
push
Right now, it's going to be a push and pull,
both direction earnings hints individual looking people stocks terms throughout
People will be looking for hints about the direction of the earnings throughout the week, ... both in terms of individual stocks and sectors.
energy helping overall
Pharmaceuticals and energy and financials are doing well. For sure, that's helping the overall Dow.
question selling whether
The question is whether this is a one-day thing after all the selling or if it's something more sustainable.
across behind carry fourth late market people percentage picking positive third
Financials are picking up across the board, that bodes well for the market, ... Being such a big percentage of the indices, if people are getting behind financials late in the third and fourth quarter, that will carry the market positive in 2005.
highs hitting tear today
We've been on a tear and it's just kind of flattening out today after hitting some near-term highs yesterday.