John Hughs
John Hughs
change coming economic economy last period rose saw seeing starting stocks weeks
We're getting to the year-end period and stocks are starting to drift. You're seeing that today, ... There's still a lot of uncertainty about the economy and about the change in Bush's economic team. We're also coming off a period where the Dow rose for 8 weeks and so you're seeing a little pullback. You saw it last week and I think it's continuing.
began call continuing correction few leaving money seeing stocks tech value weeks
What we're seeing is this kind off continuing correction in tech stocks that began a few weeks ago. The money is leaving tech and going to what we call value stocks.
ground growing literally money rebuild seed trees work
We're going to have to go in and rebuild it from the ground up because it went to seed before we got it. There are literally trees and shrubs growing up in the greens, and it's going to take a lot of work and money to get it back into shape.
environment leadership lost question replace step technology whether yesterday
We're getting a little follow-through from yesterday but we are in a transitional environment where we've lost our leadership in the commodity-based stocks, and there is still a question on whether technology will step up to replace it.
bit everybody looking rates retail rising sales softer
We're looking at a softer open. Retail sales are a bit of a concern. There is still some uncertainty over rising rates that has got everybody a little bit more cautious.
location
They're not so jaded; they haven't done it 20 times before, ... When you go on location in Chicago, even the onlookers are thrilled.
add fed hike options period rate
We're in a seasonal period that can be kind of choppy, ... Add to that yesterday's Fed rate hike and the options expirations, and you can see this kind of movement.
buying few low next technical volume
We've got low volume and not a whole lot of new buying interest. You're just not there yet from a technical standpoint. It's going to be choppy for the next few days.