Tim Heekin
Tim Heekin
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.
concerns enron grind hard hit impact rest seeing slow stories
It's been a steady, slow grind down, the same thing we've been seeing for weeks, ... You have the financials getting hit hard on the Enron stories and concerns about debt. Citigroup is heavily weighted and it's having an impact on the rest of the sector.
correction lower seeing
I think we probably need to take it even lower before the correction that we've been seeing is done.
exception last seeing seven six
I think this is a continuation of what we've been seeing for the last six or seven weeks, with the exception of last week,
based betting earnings fourth guidance half numbers people quarters rally robust saying second seeing third year
Earnings have been fine, but they just haven't been as robust as people were hoping. The guidance for the third and fourth quarters hasn't been that strong, and part of the rally was based on people betting that the second half of the year would be good, so with the numbers not saying that, you're seeing some selling.
favor growth
A lot of growth equities are in favor right now.
drifting
It's just drifting up today, there's no one catalyst,
half people rally second setting themselves
After that period, you could see a rally in July, with people really setting themselves up then for the second half of the year.
betting bond dark equity horse income market money movement people sell starting truly worth
This movement in the bond market is amazing, truly unprecedented. People are starting to sell fixed-income and put that money into stocks. Equity is starting to look like this undervalued dark horse worth betting on.
causing companies concerns giving optimistic ripples
If companies are not giving optimistic guidance, that's causing some ripples and some concerns in the market.
economic fourth market people reacting row
This is the fourth day in a row where there's been disappointing economic news, and the market is reacting to that. People are also doing a little consolidating before the weekend.
economic impact news obviously oil prices tomorrow wild
You've got oil prices and the economic news having an impact today. Obviously tomorrow it's all about unemployment. That's the wild card.
less people wednesday
It's the Wednesday before Thanksgiving, there's no one here, desks are half-staffed. There are going to be even less people around Friday.
brakes fed fueled lead meeting people realizing shifted
The lead up to the Fed meeting was that we are going to be done soon, they are going to put the brakes on, and that fueled the momentum. But now people are realizing that they aren't done yet, and that's shifted the psychology.