Ken Tower
Ken Tower
crash fill greenspan happened market months planet spot sure took
There is no person on the planet who is going to be able to fill Greenspan's spot without a test, ... I'm not sure that it's a coincidence that the market crash of 1987 happened two months after Greenspan took office.
great market proved push spark
This proved the spark to push the market higher. It was great news.
breakout continues lots market move quite stocks strong technology
And Wrigley has been very strong for some time, continues to move higher, ... Just had another breakout to a new high. There are lots of stocks in this market that are doing quite well. They just aren't technology stocks.
abandon basic beating early energy friday group industrial leadership reaching seems since stocks surprising tech took
It's not too surprising that tech stocks took a beating on Friday since they have not been a leadership group of late. While tech has been languishing, basic materials, energy and industrial stocks have been reaching new highs. These may be tiring, but it seems too early to abandon them yet.
above broad low ready sector stay stocks technology turn week
If (Microsoft) can stay above 80, then the whole broad sector of technology stocks may have bottomed out this week and had a re-test low and be ready to turn higher.
four months moving people seen stocks value
This is pretty much a continuation of what we've seen for four months now. The value stocks are doing better and people are moving out of technology.
awful confirm good rally stocks strength
At this point, any rally is a good rally. You need to see more strength in the Nasdaq to confirm that there really was a significant bottom, but there are an awful lot of stocks doing very well.
double july market optimistic since
Technically, we've been very optimistic about the market bottoming out right now. Since the July lows, this is a double bottom, so we're still very optimistic,
alive bull far market
As far as we can tell, the bull market is alive and well.
hearings impact investor people rally
These hearings have an impact on investor psychology, they make people nervous, and that's why we're having a rally at the close.
bulls market pushing
I feel that it's very important here for the bulls to show that they can keep pushing this market forward.
august averages coming downside larger late leadership left low major presumably sign support trading
I'm left with the sense that this is a trading-range market, not a larger decline. The major averages are now coming down to their late August lows, which are presumably the low end of this trading range. There wasn't any real sign of a reversal yesterday, but support is nearby and downside leadership is poor.
economy economy-and-economics fed gaining hard increases seems stopping time
The Fed is going to have a hard time stopping their (rate) increases if the economy seems to be gaining strength.
compelling correction investors likely money month move reason sidelines traders
The correction is likely to go on for another month or two, ... before there's really a compelling reason for investors and traders to move more money from the sidelines into the markets.