I don't think what we saw today [Wednesday] has any kind of legs in the long term. Although I do think you've seen the worst of the market. |
I think the smart money is looking to sell into this rally because it probably can't be sustained. |
Intel was really the harbinger about the tone of the recovery, when it comes, and that means it's not going to be very robust. |
The consensus is there is really no reason to be in the market right now. There's a feeling that people really want to see something concrete before they put their money back in. |
The numbers in the market are atrocious, given that you had a cut by the Fed today . It's very emotional to see these catastrophic events happening not far away. |
We're going to continue to see short-term volatility. But that isn't necessarily bad, as it means markets are trying to build a base. |