The firming is once again the case of one or two stocks as is the case on the downside. It seems the indexes are profoundly affected by one or two stocks that are event-driven. Today it is Microsoft. |
The mutual funds are trying to make up for a god-awful performance and they're going to put whatever cash they have to work. |
The parts are worth more than the whole. |
There is no conviction. Is the economy slowing down or is the red-hot momentum continuing? I think people are really shell shocked by the crazy volatility. |
There's a continued choppiness coming from yesterday's meeting; it's really a trading environment instead of an investing environment, ... Action has been dominated by stories in individual stocks but, to me, it's just continuing the trend of more money chasing few names. |
There's a lot of uncertainty with these deals. You've got Congressional investigations that will take place. Foreigners come in and Congress will take a really close look at it. |
There's no conviction for a sustained move but there's just an ongoing rotation, ... Everyone knows now that (interest) rates aren't going to go up for awhile so it's just a recycling of the same money. |
This is a nice surprise, but we've been through this before, ... God knows the odds seem to favor a better year. Let's see what happens. |
This market is going to fool the greatest number of people by doing what it's not supposed to do. |
Valuations are typically higher at the beginning of a recovery, but in this case they've run too high, ... Whether you're looking at dividend yields or the P/E going forward, we're just stretched. |
We'd get some sort of relief rally, ... And then we'd have a sobering up. |
We've climbed a long way here, gone a long way toward discounting the beginnings of this economic pickup. I don't really want to do any investing here. I'm raising cash on the hope that I get a better opportunity and better prices on a pullback. |
We've gone a long way to discounting a favorable outcome -- you're getting the rally that should have taken place the day the bombs fell. The real question is how much longer are the hedge funds going to let the market go before they put on short positions again. Valuations, North Korea -- you don't hear about this stuff anymore, but it's still out there. |
When they first announced this, I said, 'Who?' ... I was hoping it would be somebody with a higher profile. |
Whenever a company like Dell implodes, they go on to other names. It's a rotation -- put a dart in one of them and go on to the others, ... It's a few stocks, as it's been for the last few weeks, that have impacted the averages. I don't think the volatility this morning was any different from any other day. |