Investors had to decide this (Monday) morning whether last week's rally was real or just a knee-jerk reaction to the previous week's losses.
More Quotes from Brett Gallagher:
There's all this emphasis on the next Enron, when that doesn't exist, ... What's more common is a widespread stretching of the standards of accounting, particularly in what companies count as one-time items as opposed to recurring charges.Brett Gallagher
There's nothing for investors to latch on to with conviction. We're being tested on both sides. With no clear-cut view that things are getting better, the (economic) recovery keeps getting pushed out.
Brett Gallagher
We're going to have to see better news and slow steady incremental gains over a prolonged period of time in order to build the market.
Brett Gallagher
In our view, we're going to have another down leg here because of the consumer. If you keep laying people off, that doesn't bode well for future consumer purchases. We have a negative savings rate and we no longer have the gains from the portfolios which were increasing wealth.
Brett Gallagher
It continues to be a tug of war with all of the uncertainty going on with respect to the Middle East. I don't think the markets are going to see long-term effects after a war in the Middle East. The die has been cast -- we are going into Iraq. The U.S. is looking to force a vote to show they've got a majority.
Brett Gallagher
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