FedEx is a big drag today, Merck is down, steel is down, airlines are down, it's all weighing on the transports,
More Quotes from Tim Heekin:
The rally this morning couldn't hold up because there's just no conviction. There's some selling pressure there, but it's more that buyers have no religion. Tech and telecom are this huge drag on the market. People are buying very defensively in health care, chemicals, consumer products and pharmaceuticals.Tim Heekin
I hope we'll see a nice pick-up in business as September gets underway.
Tim Heekin
There's no economic news out Friday or Monday, and the economic news the rest of next week is not hugely influential,
Tim Heekin
The news created volume on positive speculation about other potential corporate mergers. However, last week was a down week, so we have a little bit of a bounce-back rally Monday.
Tim Heekin
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.
Tim Heekin
The election will take center stage next week, but hopefully that will actually end on Tuesday. Then later in the week, people can focus on the jobs report and the earnings.
Tim Heekin
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