46 ordspråk av Todd Clark
Todd Clark
Their guidance wasn't that great and that's what everyone is keying on. The implication for the overall market is the economy still needs to kick in.
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There just aren't that many motivated sellers. It makes me think the overview is fairly positive.
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There would be a little short covering rally, but I don't think it would last too long. People would worry that the Fed is seeing an economy that's dipping back into recession.
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They just wore us out. We have to sit in zone because we can't defend, and we knew they could make some runs. We thought we could sustain them, but we missed easy shots.
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This type of a pattern is actually pretty good, and I wouldn't be surprised if they tried to rally them back again late in the day.
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Today it's all about rates. That was a much better-than-expected ISM manufacturing number. That clearly caught people off guard.
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We are pulling back a little bit, and I would view this as a pretty healthy consolidation, considering the run we had last week and the fact crude is still above $70 a barrel.
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We can look to the end of rate increases as they've intimated that there may not be very many more. The market's been looking for signs that we may be closer to the end.
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We got off to a good start off of the mergers and acquisitions news, but I think people just looked over their shoulder and saw rates continuing to back up and crude drift a little bit higher, and it's given them a little bit of pause.
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We were bumping up against the highs we made at the end of the first week of euphoria about Iraq, ... A lot of people were looking at those levels as being a spot where the market would sell-off, and we've moved above there.
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We're basically consolidating what has been a favorable week. We've had some strong economic data and a pretty good decline on crude for the week.
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We're basically pretty quiet, so I think there might be some anticipation that some others will follow Microsoft's lead from last week.
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We're going back down to yesterday's lows and see if they hold. I think we're going back down to the October lows. The economic data doesn't support any aggressive buying.
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We're just chopping around. There's not a whole lot to get excited about. It's quiet as a mouse. There's absolutely no bias at all.
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We've got some risk here.
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