The Nasdaq, which is largely driven by tech stocks, has soared 24 percent in the past three-week period, so today we're seeing some profit-taking as the market is refreshing. |
The news so far today would support those who think the Fed is not close to ending its rate hike cycle. |
The number one factor next week will be the market's own internal dynamic. In other words, how much more momentum does the market have after going up 1,000 points in one month? |
The numbers are very significant for the markets, |
The performance of the major stock averages didn't make anyone happy in 2005. But when you consider what the markets had to contend with, treading water is not so bad. |
The possessed kid in 'The Exorcist,' whose head spins around. |
The productivity number came in better than expected and there were fewer jobless claims than forecast. |
The report was a sign that the Federal Reserve may not need to increase interest rates as high. |
The sector is notorious for over-reacting - both up and down - and now we are getting a little realistic. But I think the buying opportunity is going to be sooner rather than later. |
There are some signs of fatigue. We're still in a bull market but it's important to remember that it's over 27 months old. We can't expect it to rock and roll the way it did even a couple of months ago. |
There is a high degree of low confidence in the marketplace and nobody is looking beyond the end of their noses. They're responding minute by minute to things. |
There is no economic justification to raise rates. There is no sign that prices can go up much in this competitive environment? Raise rates or not raise rates, I feel that the market will continue its appointed rounds on the up side. |
There's been more blood being let in the sector than I've seen in long time. Everybody and their shoe shine boy knows we're highly valued in the sector. |
There's only one reason to buy stocks and that is to participate in a company's growth of earnings and I don't know any sector of the economy that offers superior growth prospects looking out two, three, four, five years than technology and selected Internet stocks. It's been working for 10 years now and I'm not going to buck a trend like that. You buy dips. We had one heck of a dip that reached a crescendo last week and people who bought Friday or early Monday have reaped very nice profits. |
These are the personalities of a market getting in the areas of a bottom. |