Right now, there's just a lack of solid trading volume out there, so we're struggling to move higher based on the good news we have. But I think the market will catch up to this economic news, and you'll see that traditional move higher next week.
Sales ex-autos was almost equal to the top-line number, so consumers really are out there spending.
Short-covering has brought stocks back a little, but you've got very little volume and the rhetoric of the potential attack against Iraq and the September 11th anniversary hanging over markets.
Small investors have learned their lesson: you just don't get out when there's a lot of volatility. I think this bull market has a long way to go.
Snow's comments about the dollar are giving investors a good excuse to take some money off the table after the recent run up, ... But basically, this is just a lot of profit-taking.
Some of the economic data we have been seeing are quite strong, but -- if you really look into it -- there are signs the rate hikes we've seen have begun to slow the economy.
Some of the good earnings reports and good guidance are reversing market psychology. In general, we're probably heading for a good earnings season.
Stocks are likely to be volatile Wednesday and through the end of the week.
That could be encouraging for telecom investors,
That could be encouraging for telecom investors.
That is a negative statement as far as I am concerned. That puts a negative emphasis on the economy.
That's positive for the market, because consumers feel the economy is going well. After yesterday's (Monday's) declines, people are coming back into the market and earnings are good.
That's what is putting a cap on the good news in the market.
The action is good so far, but we need to see another few days of this -- with slight pullbacks and people then buying on those pullbacks -- for this to really indicate that some sort of bottom has been set,
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