Bush's comments provided some short-term comfort. But shortly after, we sold back down again. |
But this is a normal pullback after the run up we've seen in October. I wouldn't read too much into it. |
I would have liked to see the market sell off even more in order to form the basis for a better rally, but I think we could possibly get a bounce from these levels in the next day or two. |
It's a short-covering rally, short term, typical of a bear market. |
It's a surprise reversal today after the labor number this morning. The resignation of O'Neill was certainly a positive for the market. That was clearly the catalyst. The market was also getting a little oversold. And you have some good participation from tech. |
It's all about the Bush plan today. Any stocks that pay dividends are doing well today, particularly telecoms and utilities. But I hope that this is not a short-term solution. A range of $300 billion to $600 billion is pretty murky. We're going to have to hope that it comes in on the high end or there's going to be disappointment. |
It's all Texas Instruments today. After IBM and Intel last week, we're seeing tech take two steps forward, one step back. |
Long-term these investigations [into accounting] will be positive, as we'll have cleaner accounting and more visibility, but short-term we're going to see a lot of bumps. |
More and more companies are going to be scrutinized in the coming months, but despite all this gloom and doom, the market is holding up pretty well with a few notable exceptions, like WorldCom. |
More and more companies are going to be scrutinized in the coming months, but despite all this gloom and doom, the market is holding up pretty well with a few notable exceptions, like WorldCom. |
Stocks had a nice run and now we're seeing across-the-board profit taking, which is healthy. Reports of Cheney's comments didn't help, but we would be seeing a little selling anyway. |
The durable goods made it look like the market was ready for a jump, but confidence knocked it back down. We're also in the worst of the summer doldrums. Then, Intel is also putting a damper on things. Markets tried to rally earlier, but couldn't because of Intel. The stock could probably hit its 52-week low soon. |
The economic news helps, but I don't know if this is more than a short-covering rally. If there was something more substantial that could sustain us for two or three days, I would be a believer, but I just don't see anything out there. |
The key here is still commodities. Oil has been above $30 a barrel for what, the last 90 days?. Commodity prices need to come down. Wholesale numbers yesterday were high because of energy, because of oil. It's a concern. It's a drag on the economy and the dollar. |
The market has done a good job, considering all it's had to take in over the last few days. There's skepticism across the board right now, but no fear, no panic. I like the action today [Wednesday]. |