dipping a cautious toe in, and I'm sure they are still holding a lot of cash on the sidelines, waiting to see how earnings come in. |
I talked to a lot of senior guys on the floor. And none of them had any real answers. |
I think of the sights and sounds and mad rushes of feeling and sensations that come over you all at once when you're in New York, |
I would have expected the rally to continue tomorrow, but I think this after-hours news may put a break on it. |
I'm not really sure what the market is showing us here, ... Seven hundred and eighty million shares: That's not a lot. |
In the past four days prior to Friday we packed in two weeks worth of work. On Tuesday people didn't just get hit; they got decked. |
It felt like a real relief rally. Also on the Dow, we hit a key technical level and we were able to bounce back from it. |
The 8,200 level has become a point of support for the Dow, |
The Dow tested it this morning and didn't break it. That's when buyers scrambled to use it as an opportunity to take some stocks that have been beaten down. |
The Nasdaq hit its Sept. 21 low, it held that level and then you saw it starting to rise. There was a lot of short-covering and there's really only so much that short-covering can do to the market. I am afraid it may be only a temporary measure here. |
There was tremendous buying momentum at the close, especially in the last 20 minutes. The shorts jumped in, the institutions ... It was a technical buyback, ... But it still was a very encouraging day as far as I am concerned. People are feeling more confident about this market now. |
There was tremendous buying momentum at the close, especially in the last 20 minutes. The shorts jumped in, the institutions ... It was a technical buyback. But it still was a very encouraging day as far as I am concerned. People are feeling more confident about this market now. |
There were no major surprises. |
They are three very good reasons right now for people to sit on cash, ... If you can somehow remove one or two of those obstacles -- and I'm thinking of earnings coming in the beginning of July -- we might get some people to get off their hands and get into this market. |
This is a market of momentum and right now the bulls have the bears pretty much in a bad spot and I don't see anything (in the next few weeks) to turn that around. |