Tim Heekin Negative Quotations

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.

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.

You've got a lot of factors here all coming into play. Oil is having a negative impact and the pre-announcement news from Viacom was significant. You also had all the banks reporting strong earnings yesterday, but yet they're selling them off two days in a row, and we're near the end of the quarter and you've got portfolio managers wanting to cash out of the rally's recent leaders.

You've got a lot of factors here all coming into play, ... Oil is having a negative impact and the pre-announcement news from Viacom was significant. You also had all the banks reporting strong earnings yesterday, but yet they're selling them off two days in a row, and we're near the end of the quarter and you've got portfolio managers wanting to cash out of the rally's recent leaders.

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.