It's the kind of market now where (investors) have to get out -- to lighten up, ... Interest rates are making people do that, and fear of a slowing economy and higher inflation. If that's the fear, then prices come down. |
That's terrific if you're a BellSouth shareholder ... but there are too many negatives poking at the market right now. |
The financials bottomed out in mid-October. Now everybody and their sister is saying they've got to buy them. There's a perception that the yield on the 10-year note is not going that much higher. |
The market overreacted to the storm and that attracted buyers at key technical levels, |
We had the Nasdaq acting poorly all day, even when the Dow and the S&P were doing well all day, ... But breadth has gotten increasingly negative. We are just seeing technical action here and higher oil is just exacerbating the move. |