It just reflects Wall Street's manic-depressive mood. In the meantime, you have some selective cautious buying, but I think people are much more cautious and not just jumping in on any dip.
More Quotes from Alan Skrainka:
Small business owners have a great stake not only in what's going on in the stock market, but what's happening in the overall economy as a result.Alan Skrainka
What you have going on in this market is a flight to quality, which is the blue chips, as tech stocks are priced to perfection.
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It's a very cautious market. We're saying take a step back from the day-to-day and look at the big picture.
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The war phase in Iraq seems to be winding down. I think in the months ahead consumer confidence will improve. It's a mistake to just look at the short term. I think it's more important to think about the third and fourth quarters.
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Our advice is that for a very small portion of your portfolio 5 percent it's OK to own gold or a broader basket of commodities. But don't do this because it's popular or exciting. If you're investing in gold, you need to stay committed through good times and bad.
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I think people placed bets today based on (the data). By buying stocks today, you are assuming we won't get bad news tomorrow.
Alan Skrainka
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