I think early January should live up to its reputation as a pretty good time of year for stocks.
We're seeing the same thing that we saw in October during the last earnings period, where investors used mostly good news as a reason to take profits.
Yet again we're seeing relative strength in the technology sector and we've really seen this for about a week. Big Tech is leading the market and that's a good sign for that sector.
The market can find something good and something bad in every economic number. If the number is strong, that's a positive, but if its really strong, people may worry about interest rates.
It obviously still dominates the software space, and we think it's going to be a good Christmas in the PC sector, both for the consumer and for business,
We've had some very good earnings. Certainly the sell-off we've had in the last week or so has provided an opportunity for buyers to come back into the market.
I thought Dell had good numbers, and it likely shows that they have taken share in a lot of key areas. While that's good for Dell, I don't think it takes the sting out of HP's news. I don't think it has broad implications for the rest of tech.
We saw some good numbers come out of GE and UTX, which bodes well for the economy, but I think we're still in this correction.