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Jim Harding
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I think we have a little bit of a correction here. The market was up just over 30 percent (for the year) as little as two weeks ago. A 5 percent correction is not really all that unusual.
Scott Pape
I don't think we're in a correction but I think we're in a very necessary leveling off period. A correction is probably over 10 percent down from the current levels and I don't think there's any reason for us to see that, but I do think given that the fact that the markets went up 7 or 8 percent in less than two months of the new year that we have to have perhaps have a couple of months time when the market doesn't go anywhere.
Patricia Chadwick
It's normal as the market rallies so strongly that we start seeing a correction and start looking for maybe even a 7 to 10 percent correction ultimately. But I don't think we're vulnerable to that right now.
Robert Robbins
I don't think this is the beginning of a significant correction in the stock market. I believe the market is overdue to have a correction of 5 to 7 percent, but not a bear market.
Roy Blumberg
[Despite recent volatility and concerns about overvaluation, market players continued to insist that Wall Street is strong.] It's normal as the market rallies so strongly that we start seeing a correction and start looking for maybe even a 7 to 10 percent correction ultimately, ... But I don't think we're vulnerable to that right now.
Robert Robbins
There are good trends everywhere. Some people are looking for a 5 percent to 10 percent correction, partly because they think it's healthy and partly because they want a pullback so they can jump back in. But the path of least resistance remains up.
Tim Heekin
This is not unlike the five percent to 10 percent correction a lot of people were calling for in the beginning of the year. You have an absence of corporate and economic news and clearly people are trying to rationalize valuations.
Art Hogan
We had a correction, partly because the market had this huge run and everyone was looking for a correction, and partly in response to the weak February payrolls number. We had a bounce off that correction Monday and Tuesday, but concerns remain.
Timothy Ghriskey
We become more worried about growth in the April quarter. We have perhaps a more bearish view than most on the length of the current inventory correction. We are lowering our 2001 capital growth estimate from 10-15 percent to 0-5 percent.
John Pitzer
After that I'm looking for a correction of about 12 to 15 percent.
Peter Cardillo
I've been anticipating a 7 to 10 percent correction over the next few months.
Bernadette Murphy
The 19-percent rally in Nasdaq stocks was a big turnaround. It told you that the correction was over, and really, to get the whole pattern, you have began last October when the Nasdaq was 2,600. It actually doubled to the March high of almost 5,200. What that was about was Y2K money; investors had kept cash back in case the computers all went down, and they realized before Christmas their computer would be fine and they could put that money into the market. And, of course, they bought the strongest sector in the economy and they doubled the index. Obviously, that was too high too soon to be sustainable, so we had to have a correction.
Robin Griffiths
[Yet while sentiments are that small-caps will rise as long as large-caps remain strong, some on Wall Street believe the bull market has a limited outlook for the near term.] Let me put it this way, the market is more likely to be down 10 percent (in a few months) than up 10 percent, ... But I don't look for any big correction.
Cary Leahey
We've had a 7.5 percent correction in the Nasdaq and something more modest in the Dow and S&P 500 over the last six weeks, so you've got a little bounce right now,
Joseph Battipaglia
I think everybody was looking for a correction in the market. If you look at most bull markets, you do usually see a few pullbacks of at least 5 percent.
David Briggs
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