No one is panicking and that is the good news. There's no leadership out there and there are a lot of question marks. Investors have convinced themselves of a better second half, but it's not assured.
More Quotes from Charles Payne:
On down days it's been light, and on up days it's been huge, so that's a sign that investors want to buy this market.Charles Payne
The market's at the mercy of sentiment, which is very bad. It's not panic selling, but there's a lack of buyers right now. There's a lot of money on the sidelines.
Charles Payne
There's pretty even selling across the board. Some folks are cashing in on their gains to blue chips and are getting ready to buy Nasdaq stocks.
Charles Payne
This has been a good time for investors to take profits and there's some hesitation ahead of tomorrow's (Friday's) report. There is a general sense that if we're not at the worst, we're almost at the worst -- but you have to expect the market to pull back occasionally.
Charles Payne
The damage is already done. Investors are willing to go in and buy on the weakness. There is enough conviction that 25 basis points (one-quarter percentage point) is already built in.
Charles Payne
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