I think what we're doing today is selling into the rally. We're positive on the market for the time being, but once this thing is settled, we'll have to take another look. We'll have a whole new ball game -- then we're talking about the economy.
More Quotes from Bill Roe:
I think you'll probably see an extension of this rally next week, barring any surprises over the weekend and assuming the ISM number Monday is positive.Bill Roe
The selling is just about over for the time being, but it's not an environment conducive to buying. There's not much reason to jump in.
Bill Roe
We've had a huge run-up, and people want to take some profits right now. More than the currency worries or specific stocks with bad news, you've got good old-fashioned profit taking with people feeling that the market is overbought.
Bill Roe
It's August, and there's just not a lot of interest in what's going on at the moment.
Bill Roe
Everybody is doing a 'wait and see' after the recent run. In the last few months, every time we've stepped in too quickly, we've been subject to a correction shortly thereafter, so people are reluctant to commit.
Bill Roe
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