Also some of today's selling pressure is a result of a very quiet market, with many professional investors taking the final trading of 2005 as a holiday, combined with some last minute cleaning up of portfolios by those investment managers who have made it in today.
More Quotes from Robert Pavlik:
The earnings news has given us a little confidence and there was good news on the economic with durable goods orders and jobless claims coming in a little better than expected.Robert Pavlik
The market is still feeling good after the Federal Reserve minutes yesterday. Between now and the end of the week, we have a lot of economic data coming out.
Robert Pavlik
We were still digesting the news from Friday as well as coming to grips with higher yields and oil prices today. We had very muted action today. The lack of volume was evident ahead of the start of the earnings season.
Robert Pavlik
We'd like to see this number strengthen, however, estimates have been revised lower, which is possibly a result of the same affliction that caused the drop in durable goods two weeks ago, namely a slowdown in aircraft orders.
Robert Pavlik
People attribute the strength in new-home sales to the warm winter, and the market wants to see that trend continue. If new-homes sales drop too much then the talk of the housing bubble popping will get louder and will scare the market.
Robert Pavlik
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