Tim Heekin
Tim Heekin
exception last seeing seven six
I think this is a continuation of what we've been seeing for the last six or seven weeks, with the exception of last week,
correction lower seeing
I think we probably need to take it even lower before the correction that we've been seeing is done.
concerns enron grind hard hit impact rest seeing slow stories
It's been a steady, slow grind down, the same thing we've been seeing for weeks, ... You have the financials getting hit hard on the Enron stories and concerns about debt. Citigroup is heavily weighted and it's having an impact on the rest of the sector.
bonds coming fixed funds income money pension seeing shifting weeks
What started this two weeks ago was the big pension funds and other institutions coming in, seeing that bonds were getting over-valued and shifting money out of fixed income and into equities.
based betting earnings fourth guidance half numbers people quarters rally robust saying second seeing third year
Earnings have been fine, but they just haven't been as robust as people were hoping. The guidance for the third and fourth quarters hasn't been that strong, and part of the rally was based on people betting that the second half of the year would be good, so with the numbers not saying that, you're seeing some selling.
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.
remains whether
Whether this is sustainable remains to be seen.
accounting catalyst continued corporate flirting key markets move rally support technical
We're flirting with key technical support levels. Markets rally but then can't sustain. There's continued nervousness about accounting and corporate profits, but no catalyst to move us out of it.
bottom build economic few market monday next numbers
We have no economic numbers Monday and my sense is that the market is going to keep consolidating for the next few sessions, before we make a bottom and then build from there
best data hit loss pressure providing retailers selling taking yesterday
Retailers are still taking a hit off of Best Buy's loss yesterday and now today's data is providing some more selling pressure in the sector.
coming drive market people retail technology trying
I think people are trying to drive the market higher. They're coming in on what have been some of the better groups, that being retail and technology still.
confused continue people today walked whether
I think people walked in confused today as to whether we are going to continue this uptrend through year-end or back off.
beginning buyers earnings good higher news rally ran time
I think the rally just ran out of gas. You're right at the beginning of the earnings reporting, and all the good news is priced in, and buyers are getting a little tired. I think it's time for a little pullback. After we see a little consolidation, then we can go higher again.
continue continuing fall few next oil prices pull stocks
I think even if oil prices continue to fall for the next few days, we're probably going to see stocks continuing to pull back.