We were looking for a little pullback because you don't often see a 9 percent gain over two weeks. |
We'll probably drift through February, a typically tough time for the market. We had four months up and one month down, so we're not out of the woods yet. |
We'll see an avoidance of major pharma, maybe with a move toward medical technology and biotech. |
We're due for a little bit of a bounce back from the lower end of the trading range. |
We're heading into the typically slower summer months, and it's slow already. It's hard to imagine a sustained rally taking hold. |
We're in a narrow range, moving around about 1 percent over the last three days, and it looks like the markets are waiting for some economic figures or waiting on oil because there's really no reason to push anything now. |
We're in a state of shock. The S&P lost 50 points in four days. |
We're still in that pattern. Everyone is on hold and waiting for the next (quarterly results) pre-announcement season in September. |
What we're hearing is that today was predominantly short covering, ... I know that there's people that have cash and are stepping in when the market's down. |
When a rally gets under way the sellers pull away and when selling sets in the buyers pull away. We'll have to get used to this type of volatility. The market is trying to find a bottom and could take six months to do that. But people are trying to trade this market in excess of its underlying fundamentals. |
Where that integration exists is where the poker market is going -- the mix of celebrity and average Joes. |
With higher interest rates, fundamentals are starting to erode. We're looking for margins and earnings to be constrained going forward. |
Yesterday's sell off created a little bit of a bargain today, and investors are stepping it up and taking advantage. |
You don't want to sit here going long with stocks and have something happen over the weekend. |