It's testing the October 1998 low. So at this particular time it looks quite bullish to me in the long-term perspective, |
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. |
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. |
Microsoft is the second-largest company in the world, so when its shares are seeing that kind of surge, it's going to spill over into all kinds of other companies. |
My opinion is it's only natural for the Nasdaq composite to undergo some profit taking after a 30-plus percent advance in two months. Also, many groups that have been very strong -- like the semiconductor group, the drug group -- these are up against relative strength resistance. So it stands to reason that they're going to be profit taking, |
My suspicion is that we're near a near-term low. The reality is the majority of the selling short-term is over with -- the market doesn't want to go down. |
My suspicion is the stock is not doing much now, it's not earth-shattering. |
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. |
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. |
Of the earnings this week, I'll be looking at GE, ... They're so broad-based in their business that what they have to say is going to be important. |
Of the earnings this week, I'll be looking at GE. They're so broad-based in their business that what they have to say is going to be important. |
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, |
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. |
People are comforted by Intel, but it's unsurprising that they had a good quarter, so you're seeing a little sell on the news, ... Market events get discounted more and more these days, and I think you're especially seeing that as we get into this period of digesting the earnings news. |
People don't want to lose any more money, and selling begets selling, ... No one is giving any good guidance and it's a complete selling fest. |