Market is again lower. Some people feel the lack of buying due to holiday is what exaggerated the drop today, but i feel differently. I think the market wants to go lower. With the earning going to be mixed and even the strong earning or strong economic news may signify the need to raise interest rate further, so any news right now even good news may be perceived to have bad consequences. I think this market is going to be weak until we have a signal from the Fed that the rate hike will be coming to an end at certain level. In the meantime, pick stock wisely. In the after hour, DNA beat the estimate by 5 cents. The stock should be moving strongly to the plus side tomorrow. Alcoa also beat the earing by 3 cents. It’ll be interesting to see how this news will be recived by the market tomorrow.

This entry was posted on Monday, October 10th, 2005 at 8:21 pm and is filed under Market Recap. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.