With the Iraq situation resolved, I believe the market is likely to take off. I think you'll see volume pick up dramatically as soon as the Iraq situation clears up. |
Yesterday (Monday) was a technical rally. There's still a lot of uncertainty about a potential recession and about what's going to happen on the diplomatic front. |
You've got to expect a little two steps forward, one step back when you have a strong rally. Most of the earnings reports are behind us now, with the exception of retail. We're going to need more comments like the ones from Dell ( DELL : down $0.72 to $27.23, Research , Estimates ) [Computer] last week -- telling us that things are going to be better -- before investors are going to be willing to believe that a rally is here to stay. |
You've got two things: a horrible retail environment ... and oil prices are up to $32 a barrel. When energy prices rise they pervade all aspects of the economy and costs go up. ... The big thing overhanging the market is what we are going to do with Iraq. |