There was so much expectation built in for the stock ... I think that the expectations were about as high as they could get for it. I think it was a case of buy on the rumor and sell on the news.
More Quotes from Marc Pado:
It will take some strong earnings and bullish forecasts, as well as positive economic data, to keep the rally going. There are plenty of economic data and earnings releases to sway market opinion from hour to hour and day to day. Behind it all, there is the rising threat of geopolitical tensions with Iran and higher interest rates out of the Federal Reserve.Marc Pado
The good jobs report bought the bulls a reprieve, and now it is up to earnings to carry the torch. We're still heading right into the seasonally weak February and March months in a bearish midterm election year with rates rising and oil prices rallying. Januaries tend to start strong, but it is how they finish that matters.
Marc Pado
Mergers are looking to help us hold our ground today.
Marc Pado
The bulls had a real opportunity. Earnings continue to roll in, and for the most part they are in-line or better than expected.
Marc Pado
The futures are off to a slightly lower start after the Group of Seven industrial nations made a firmer call for China to accelerate the exchange rate of the yuan. The dollar got hit in response.
Marc Pado
Today, we're keeping an eye on the same old catalysts, rates and crude. The drop in interest rates overshadowed a rise in crude Tuesday . However, crude is still well entrenched in its trading range, on a long-term basis.
Marc Pado
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