Barry Hyman
Barry Hyman
action earnings hard market narrow negotiate pick stable stronger today trend trying
Trying to pick a trend in this market is impossible. Friday's action was anemic, and today there's anticipation of a stronger earnings season. Other than short-term traders, it's hard to negotiate a market that is so narrow in range. We're at least stable for now, but there hasn't been a trend for over a month.
bit surprising terms
This story is a little bit surprising in terms of the players, not in terms of the deal.
companies dominating focusing investors market optimism reveal season signs traders turn waiting year
Traders are dominating this market when investors are just waiting for these pre-releases to really reveal what these companies look like. We're just waiting for the first signs of a turn and there's little optimism as we go through this pre-release season and no one is focusing on the second-half of the year (2001).
activity holidays positions rolling saw traders
Traders are just lightening their positions a little bit. The holidays are compressing the activity and I think most of the (options) rolling over you saw yesterday.
change dominated expect federal percentage quarter reserve trading waiting
Trading is going to be dominated by waiting for the Federal Reserve Board. We still expect the Fed to go a quarter of a percentage point, and no change in language.
attempt bit clearly rebound seeing trying
You are seeing a little bit of rebound in some of the worst-hit sectors. It's clearly a short-term attempt at trying to find some stabilizing level.
market negative news tech test today
Today will be a test of the market to see how it handles some negative news in the tech sector, Dell being that test.
asset cash helping hold paid perspective switch
You are not getting paid to hold cash anymore. I think if you look at it from that perspective you see an asset allocation switch going on, which is helping this rally.
commentary expected percent quarter seems
With an expected quarter percent rise, the commentary seems a little more hawkish than expected.
market rounds sell stories treated whether worry
You have a market on eggshells. The stories that make the rounds are being treated as sell first and then worry about whether they're true.
course earnings ignore potential
You have to ignore that because they're of course going to be bad, ... You have to look at earnings potential, and cyclicality stocks, I'll go for International Paper.
continuing correct good michigan numbers oil prices technology
You have the correct sectors continuing to lead, which are technology and financials. The Michigan numbers were good today, and oil prices are down.
economic negative terms
We don't have a predominance of negative news, day-to-day, in terms of economic events.
accepted behind best clean companies earnings fact forecasts gotten growth half handful name percent quarter scenes season second stocks surface totally year
We've accepted the fact that the earnings growth for the quarter is around 20, 21 percent year-over-year for the S&P. But there's been this behind the scenes look or under the surface look at revenue. And we haven't got the best of forecasts for the second half of the year in many companies going forward. And if you don't have that pristine look -- where you come in this earnings season totally clean -- you've gotten battered. And I can't even name more than a handful of stocks that have come through.