I think the rally just ran out of gas. You're right at the beginning of the earnings reporting, and all the good news is priced in, and buyers are getting a little tired. I think it's time for a little pullback. After we see a little consolidation, then we can go higher again.
More Quotes from Tim Heekin:
All of the numbers this week are potentially market moving. I think people will be watching the numbers for hints about inflation.Tim Heekin
People are looking for more clarity in terms of Iraq, interest rates, oil prices and the dollar.
Tim Heekin
You can interpret it a bunch of ways, but all I know, and all that the market seems to know, is that short-term rates are going to rise, and they're going to rise really soon.
Tim Heekin
There are good trends everywhere. Some people are looking for a 5 percent to 10 percent correction, partly because they think it's healthy and partly because they want a pullback so they can jump back in. But the path of least resistance remains up.
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
It's a quiet day before Easter, and we're waiting for the bunny. You have people not wanting to make moves before a three day weekend, and you have some fears about terrorism -- with Rice speaking, and because this is a religious holiday.
Tim Heekin
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