Tim Heekin
Tim Heekin
chip news sector seen select strength technology themes
Even with the Dell news, the two themes we've seen today, and lately, have been strength in select technology -- today, that was the chip sector -- and strength in industrials.
ahead bad good market negative news reacting seems shaking
The market is usually ahead of a recovery, and in the past, the market was reacting to negative data. It seems to be shaking off bad news now. To me, that's good news.
airlines drag steel
FedEx is a big drag today, Merck is down, steel is down, airlines are down, it's all weighing on the transports,
healthy last looks market months move strong
You've had a strong move in the market in the last two months and this to me looks like healthy consolidation.
energy helping overall
Pharmaceuticals and energy and financials are doing well. For sure, that's helping the overall Dow.
few leadership lose next past selling software support tech tend three top
Semiconductors and software have been the leadership for the past few months, so when there's tech selling now, they tend to lose support first. But we're at the top of a range, technically, so we're going to see some selling for the next two or three sessions.
last people vacation week york
It's the last week of August, people are on vacation and a lot of the big institutions in New York are half-staffed.
build coming good jobs potential rally report run terms volume
The market's had a pretty good run this week, in terms of volume and gains, and I think coming in this morning, there was the potential to build on that rally if the jobs report was a blowout.
action driven fact hanging namely negative news
Action is being driven by the news of the day, namely Microsoft, Nortel, Qwest, ... The fact that we're hanging in there with so much negative news out there is good.
bounce correct driving seeing sold
There's nothing fundamental driving these gains. The Nasdaq had sold off over 10 percent, the Dow and the S&P had started to correct as well, so you're seeing a bounce off of that.
behaving markets matter might negative numbers people surprised turn
A lot of people are surprised that the markets are behaving as well as they are. But there's a sense that even the negative numbers don't matter as much as they might have, that markets are preceding the turn of the economy.
across behind carry fourth late market people percentage picking positive third
Financials are picking up across the board, that bodes well for the market, ... Being such a big percentage of the indices, if people are getting behind financials late in the third and fourth quarter, that will carry the market positive in 2005.
bonds came finally funds high hold profits recent taking test
Bonds finally showed a little reversal. We put in a high on the long-terms and then dipped off of that. I think the big bond funds came in and started taking profits after the recent run. The real test will be if we can hold these levels.
badly bond flew looking money people performed performer sector tech worst
The tech sector as a whole has performed so badly this year; the Nasdaq has been the worst performer year-to-date. I think a lot of money flew into the 10-year bond during the conventions, during the Olympics, and now people are looking to put their money into the beaten-down sectors, like tech.