We've had some rainbows, but the themes of low visibility and investor uncertainty have run loud and clear here. But you get to the point where selling has run its course and late-day flurries have shown that this process is under way. |
We've seen late day short rallies on low volume that are exaggerated by lack of supply. The move has been overrated, |
What a difference a day makes. |
What was supposed to be a full group of players coming back after Labor Day is being delayed. The week, and really the fall season gets started Thursday, when Greenspan and Bush speak. |
What we're looking to do now, with the market back, is to upgrade the portfolios. Real hot to trot tech stocks, especially in the Internet area, have really come back, |
Where's the next catalyst? We're near the upper end of the trading band and I wouldn't be surprised to see some backing and filling over the next few weeks. |
With Hewlett-Packard, another one bites the dust and technology is bearing the brunt of a buyers' strike, ... We're mired in a period of uncertainty here and clearly the vote right now is 'Cash is king.' |
You are seeing an unwillingness of investors to step up and pay for expensive technology names in light of the economic uncertainty over the next few quarters. |
You got technical selling coming in as we broke a support level. Beyond that, we're just sitting here in no-man's land waiting for earnings announcements and economic data. |
You have a bit of inertia. You have a certain mentality that we have a deer in the headlights with the near-term earnings uncertainty versus the long-term prospects for economic recovery. So you have a market that's in a tug-of-war. |
You have nobody willing to be a hero here -- it's hard for people to step up to the plate. Trade over the past two sessions has been very speculative. If you removed Iraq, you'd probably have a market that was doing OK. |
You look at the insurers that had a great year last year, have traded back, |
You saw a late-day reversal yesterday (Monday) from the morning's lows and you're seeing a little pop-up right now, but it doesn't mean anything fundamental. Program traders are dominating the day-to-day. |
You've got HP today. You also have a structural shift, a seasonal shift that is very positive right now, |
You've got HP today. You also have a structural shift, a seasonal shift that is very positive right now. |