Tim Heekin
Tim Heekin
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.
bottom buy buying dogs expected fourth looking loss lots managers movement quarter selling stocks tax
There's been lots of movement for tax loss selling, managers looking to buy stocks that have done well this year, and a lot of bottom fishing, where they're selling some stocks that have been dogs and are buying stocks that are expected to outperform in the fourth quarter and 2005.
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.
question selling whether
The question is whether this is a one-day thing after all the selling or if it's something more sustainable.
banks cash coming days earnings factors impact managers near negative news oil portfolio quarter recent reporting selling strong wanting
You've got a lot of factors here all coming into play. Oil is having a negative impact and the pre-announcement news from Viacom was significant. You also had all the banks reporting strong earnings yesterday, but yet they're selling them off two days in a row, and we're near the end of the quarter and you've got portfolio managers wanting to cash out of the rally's recent leaders.
banks cash coming days earnings factors impact managers near negative news oil portfolio quarter recent reporting selling strong wanting
You've got a lot of factors here all coming into play, ... Oil is having a negative impact and the pre-announcement news from Viacom was significant. You also had all the banks reporting strong earnings yesterday, but yet they're selling them off two days in a row, and we're near the end of the quarter and you've got portfolio managers wanting to cash out of the rally's recent leaders.
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
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.
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,
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.