Kenneth Sheinberg
Kenneth Sheinberg
beat cares company earnings estimates far gonna heading lower market news penny profits three year
The market is jittery and it's gonna keep heading lower for a while. Earnings news is doing nothing to help. Who cares if a company beat estimates by a penny when the profits are so far down from the year before and the estimates were already lowered three times?
led main reasons weak
Biotech is weak and biotech has been one of the main reasons that led the Nasdaq to 5,000.
backing expecting fact good news people provide recently string sun tech
People weren't expecting good news from Sun, so it's not a surprise, but there's been some enthusiastic tech news recently and you need a string to keep that going. Sun didn't provide that, and in fact they countered that, so people are backing off a little bit.
groups normal
It's kind of a normal rotation. Some of these beaten-up groups are getting some sponsorship.
continuing gone money people places rotation trying
Now people are trying to find other places to put their money. It's just more of the continuing rotation that's gone on for a while.
market trend
Right now the trend is up but we're getting very overbought. The market is susceptible to any pullback.