Over the next few months there is going to have to be evidence that justifies the hope that we're seeing for a rebound in the early months of 2002. If that does not emerge in the first few months of 2002, then the market's vulnerable to another setback. |
The declines have put stocks at a critical level that they need to recover from in the near term. |
The market is beginning to price in not only a significant recovery but a quick recovery. For that reason we think the market is vulnerable. |
The volume is light with a lot of people on the sidelines, particularly after last week where you had some heavy economic activity. |
They could come in at 73 or 74 cents a share and that's still substantially below what Wall Street was originally targeting. That type of shortfall is pretty significant. |
When crude is at new highs like this, that makes people nervous and gives them a reason to sell. |
While Intel's news wasn't bad, it wasn't as bullish as some had hoped. |
With oil hitting new highs almost every day, there are a lot of questions about how consumers are being hit at the gas pump. The retail sales numbers will offer some clues. |