Al Goldman
Al Goldman
anyone averages consider contend happy major markets performance stock treading water
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.
came claims expected fewer number
The productivity number came in better than expected and there were fewer jobless claims than forecast.
bull couple expect market months remember rock roll signs
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.
above fear normal pause yesterday
We had a very big celebration yesterday but there is still a lot of fear in the market. We got above 11,000 and now we're retesting it in a very normal pause to refresh.
anxiety high investors market names nervous number raises tech
A number of the high tech names are getting smacked real good. It was already a market where investors were nervous already. With the darlings getting hit, that raises the anxiety level.
adjust along came economy election gave growth market patient recovering signs slowing trying until
The market has been trying to adjust to signs of a slowing economy and a deceleration in the growth of earnings, not a deterioration a deceleration, ... We were doing better until the election snafu came along and gave a just recovering patient a relapse.
benign correction days earnings ended five healthy main market picture profit reason recovering remains rising row sea slowly taking technical three weeks
I think the main thing that's going right for the market is that we still have a very healthy economy, with rising earnings and benign inflation. On a technical side, I think the correction ended three weeks ago. The market has been slowly recovering its sea legs. We had five days up in a row on the Nasdaq composite, and that is the reason why the profit taking yesterday. But the big picture still remains very positive,
arises creates employment high level problem wage
A high level of employment is not a negative, it's a positive?. The problem arises if, in fact, it creates wage inflation. And we're not getting that,
bullish mood
I think we are transitioning from a bearish mood to a bullish mood,
anticipate corporate earnings economy growing healthier inflation reduced
The economy is growing at a reduced but healthier pace. We don't anticipate any inflation problems, and corporate earnings are going up, up and away. So, yes, we're still bullish.
dramatic fed move today
The Fed made a dramatic move today and it was needed,
depressed economic either everybody good keeping price problems
On one side, we've got pretty good economic fundamentals. On the either side, we have all the problems that are keeping everybody depressed -- Iraq, Iran, the price of oil.
economic friendly numbers
This morning's economic numbers were friendly for stocks,
optimistic technical
I'm very optimistic on the long bond. The fundamentals are there and the technical underpinnings are still positive.