MSN Money: "Techs force a pullback; Amazon profit is strong"

[Bush_Eats_Beef]

More fodder for the Bush "our economy is strong" cannon.

http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P73081.asp

Proof positive of what has been said over...and over...and over in the last few days, mainly the two big election issues coming out of Iowa and NH:

1). "Who can beat Bush"

2). "Where are the JOBS???"

Because people without portfolios tend to read articles like this and get MAD.

"Amazon.com reports a 50% profit jump in the fourth quarter. But semiconductors are hammered and drag the overall market down. Is this the start of a correction? Xerox says its fine quarter may be the start of good times."

"The question as the afternoon wore on today was this: Was today’s slump the start of a correction or mere profit-taking from yesterday’s big rally?"

"But consumers’ assessment of current conditions, which strongly hinges on improvements in the labor market, remains both weak and volatile."

This article does not answer either of these questions. Consumer confidence is "weak and volatile," but Xerox is doin' fine! Sounds like mere profit-taking to me.

:toast: :puke: :toast:

[teryang]

1. This market shows signs of instability similar

...to those in early 2000 before the nose dive. Anyone dipping into this market gets whip-sawed. Even on days when its up, it is only up in the last 20 or 30 minutes. Late day reversals punish all concerned. Don't believe anything you hear about this market. This is terra incognito. Most big positive moves take place in extended hours/ premarket trades where prices can easily be manipulated. It gives investors the false idea that they are missing out on something. I'm wondering if averages whipsawing 50 or 60 points a day on the NASDAQ or one hundred plus on the NYSE will come back before the collapse. Can they hold off till November?