We got a little bit overextended, a little bit overbought. A lot of buying came into the market in this last rally. We're due to get a little bit of pullback. ...The individual investor is still not convinced he should be in the market, and he's not. I think we're going to be range-bound for a while here.
More Quotes from Brian Finnerty:
I think we had normal consolidation here. It seems like people are banking on a better second half. I don't think it's going to run away, but it's going to get gradually better.Brian Finnerty
We've got a very low interest rate environment. The Fed told us that last week and we all heaved a sigh. We had very strong corporate earnings for the first quarter. That seems to be continuing. We just have a wonderful environment here for investing.
Brian Finnerty
Yesterday, late in the day, we saw big buying in the Internet sector and we heard there were some big institutions in the market buying. It looks like they walked away today.
Brian Finnerty
The earnings have been fairly strong, but that hasn't had a huge impact on the market overall. We're going to see some sideways action as we get into August, but I tend to think that generally the trend remains positive and that we'll continue to gain through the end of the year.
Brian Finnerty
The market has been in this trading range for a while. The market is now digesting all of this economic news. I believe we're poised for another good run in the market.
Brian Finnerty
The market is really waiting for (Friday's) numbers. It's going to be a case of as interest rates go, so go equity markets.
Brian Finnerty
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