Technology has done well, not necessarily because of the crash, but because it has moved up the alert that the market's concentrating on a 2002 recovery. Rather than focusing on the earnings that are going to come out in the fourth quarter, people are looking forward rather than near-term.
More Quotes from Barry Hyman:
The 10-year bond looks like it's headed higher, so I think the feeling is starting to pervade Wall Street that economy's fine and interest rates are heading higher. But the market has (also) been choppy and struggling with some key technical levels.Barry Hyman
The stocks that are up today are euro-based, ... Let's hope we can make the case that the euro problem is closer to (being) resolved than before and that's a good sign today. Whatever overhanging concerns can be relieved will help the market.
Barry Hyman
There is a fear that we'll have a negative surprise and inflationary fears are keeping people on the sidelines, ... There's no real great impetus out there to drive the market.
Barry Hyman
We need some inference from the Fed that interest rates beyond June are in doubt,
Barry Hyman
The bias still seems to be to the upside. Buyers are optimistic and see the long-term side of the market. The downward pressure now is not that great. The money flow has just been too strong.
Barry Hyman
For the market to make a convincing case that we've ended the decline, it's going to have to put together a few days in a row of advances or people are going to look upon up days as an isolated situation.
Barry Hyman
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